1, different units

The annual interest rate is in years, and the interest rate is in months, where the monthly interest rate = annual interest rate12.

2. Different representations

The annual interest rate is expressed as a percentage of the principal, and the monthly interest rate is expressed as a few thousandths.

3. Different calculation methods

Annual interest rate = principal * loan interest rate * time, annual interest rate = principal * loan interest rate * loan time is monthly repayment.

If the principal is 5000 yuan and the annual interest rate is 7.47%, the interest generated by 1 year is: 5000 * 7.47% * 1 = 373.5 yuan.

The principal is 5000 yuan, and the monthly interest is 6.225%. The monthly interest is 5000 * 6.225% *1= 31.125 yuan.

So the principal of 5000 yuan and the principal and interest of one year are: 5000+373.5=57373.5 yuan. The principal is 5,000 yuan, and the principal and interest for one month is: 5000+31.125 = 5031.125 yuan.