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What do you mean by 5% monthly interest?
A monthly interest rate of 5% is equivalent to a monthly interest rate of 0.5%. If you apply for a loan of 10000 yuan, the monthly loan interest of 1 yard is 10000 * 0.5% = 50 yuan.

Tips:

1, people generally use Li Lai to express the interest of loans, and Li is the unit of measurement, which means several thousandths. If it is used to express interest, it is usually monthly interest, because daily interest is calculated in units of ten thousand, and annual interest is calculated in percentage;

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