#### Principal (initial amount), P = 1,000

#### Annual simple interest rate, R = 10%

#### From date: Jan 4, 2018

#### To date: Jul 4, 2018

#### Duration, T = 181 days (6 Months)

#### Commission fee (withdrawal or payment), F = 0%

#### No. of days in a year, N = 365

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (1,000 × 10% × 181) ÷ 365 =

#### (1,000 × 10 × 181) ÷ (365 × 100) =

#### 1,810,000 ÷ 36,500 ≈

#### 49.58904109589 ≈

#### 49.59

## B = Amount earned:

#### B = P + I =

#### 1,000 + 49.58904109589 =

#### 1,049.58904109589 ≈

#### 1,049.59