First, we need to convert the interest rate into decimal form, that is, 10.98% into 0. 1098.

Secondly, the loan amount and interest rate are substituted into the following compound interest calculation formula to calculate the total interest:

Total interest = loan amount ×( 1+ interest rate) number of periods-loan amount

Substitute values into the formula:

Total interest = 300,000× (1+0.1098) 500,000-300,000.

According to this calculation method, the calculated total interest is about 91.2000.

Therefore, if the loan amount is 300,000 yuan, the term is 5 years and the interest rate is 65,438+00.98%, the total interest is about 965,438+02 million yuan.

Please note that this calculation method is based on annual compound interest, which may actually be different according to the repayment method and specific loan agreement. It is recommended to consult a professional lending institution or use a loan calculator to accurately calculate the total interest under actual conditions.