How much interest is 58 per year?

Annualized 58 interest is 2900 yuan. According to the calculation formula of bank loan interest, interest = principal * annualized interest rate * loan term, and the annualized interest rate of bank loan is 58, then the interest of loan for 50,000 years is 50,000 times 5.8% = 2,900 yuan. Annualized 58 refers to the annualized interest rate of 5.8%.

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