This isn't rocket science:
- 500 × 0.01" = 5.0"
- 1.00" ÷ 100 × 5 = 0.05"
- 1.00" ÷ 500 = 0.002"
- 1.00" = 25.4 mm
Do you perhaps mean 0.05" (i.e. five hundredths of an inch)? That's not
usually something to worry about, when it comes to structural framing. Similarly, it's positively inconceivable that you'd care about 0.002" (i.e. one five-hundredth of an inch) in your frame.