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What's the interest rate of seven percent for ten thousand yuan?
Legal analysis: 1 7% interest for ten thousand yuan, and one month's interest for 700 yuan. The principal is ten thousand yuan, that is, 10000 yuan, and the interest rate is 7%. According to the formula, interest = principal * interest rate, the following formula can be obtained: interest = 10000*7%=700 yuan. According to relevant laws and regulations, the loan interest shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 670 Interest on a loan shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated.

Article 671 Where the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.