Loan 1 1 ten thousand, 500 yuan a month, relatively cheap, with a monthly interest rate of 5% and an annual interest rate of 6%. The interest rate is a proportion, and the complete interest rate takes time.

1 1.5% interest equals 1 10000 times 5 divided by 1000 equals (divided by 1000 above and below the fractional line) equals 11. Because in order to answer the question listed in the title correctly, we must first convert the 5% interest listed in the title. The so-called 5% interest rate refers to the interest rate of 5% or 0.5% in a loan cycle based on 1 yuan. Therefore, the principal of ... is 1 10000, and the interest during this loan period is 550 yuan.