#### Principal (initial amount), P = 10,000

#### Annual simple interest rate, R = 3%

#### From date: Jun 18, 2017

#### To date: Jul 18, 2017

#### Duration, T = 30 days

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

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

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (10,000 × 3% × 30) ÷ 365 =

#### (10,000 × 3 × 30) ÷ (365 × 100) =

#### 900,000 ÷ 36,500 ≈

#### 24.657534246575 ≈

#### 24.66

## B = Amount earned:

#### B = P + I =

#### 10,000 + 24.657534246575 =

#### 10,024.657534246575 ≈

#### 10,024.66