In the Philippines, Indian businessmen offer 5-6 to desperate
Filipinos who are really in need of money! That is, they will lend the
borrower 5000 then the borrower will have to pay 6000 in return in 60
days. To make the story worst, they will actually collect the payment
everyday. That is 100 everyday. On the 60th day, the "loan" is
expected to be finished.

If this is the set up, how much is the APR?
And how many percent is the interest.