# Repayment ### Repayment Schedule In contrast to many lending protocols, all drawdowns are amortised over a transparent and pre-determined schedule according to protocol parameters set by governance. At present, this is set at **three** instalments over a **28 days** period (including the first instalment which is paid down during the NFT purchase). ### Interest Borrowers are charged **simple** **interest** (as opposed to compound), as a means of simplifying the repayment mechanism and promoting better cashflow predictability for both lenders and borrowers. Given the following parameters: $$P = 10$$​ $$Rate=0.5214$$ $$Fees=0.1$$ ​$$Term\_\alpha=28\ days$$​ $$Epoch=14\ days$$ $$NPer=28/14=2$$ $$EPY=365/14=26.0\bar7$$ Assuming the first instalment is paid down during purchase, we arrive at the following instalment amount that the borrower has to pay at the next epoch: $$Pmt=10\*(1+0.1+0.5214/26.0\bar7\*2)/3=3.5$$ {% hint style="success" %} All key terms of the loan are known beforehand using simple arithmetic calculations and stored on-chain, allowing borrowers to easily make business and financial plans when borrowing with Voyage. {% endhint %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.voyage.finance/voyage/whitepaper/voyage-buy/repayment.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.