Both. And also for when the king loans you a boat. I get the text with symbols like '%' etc.
Indeed, I get the same:
"you will find a galleon in %s1 ready to sail.
Our finances impose us to require you to do share it cost ... The
modest sum of d1% [gold picture] will be paid on your assets"
I also get on the "improvement of the farm" pop-up:
"the improvement will cost you d1% [gold picture]"
And the "end of agreement" popup:
"The deadline, for the contract on the barter
Cacao/Tools between the %s1 village and your
colony New Amsterdam has expired."
Already played 316 turns (25 hours) so far in my game and looking forward to more.