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Borrow 5000 yuan. What is the annual interest rate of %20.55 a month?
The loan principal is 5000 yuan. If the annual interest rate is 20.55%, the monthly interest rate = annual interest rate12.

Monthly interest rate: 20.55%12 =1.7125%.

Monthly interest = loan principal x monthly interest rate

Monthly interest = 5000x1.7125% = 85.63 yuan.

The monthly interest is 85.63 yuan.

Personal opinion, for reference only.

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