Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 10,000 units (Dollar, Euro, Pound, etc.), from date: Mar 21, 2018, to date: Apr 21, 2023, namely for a period of 1,857 days (61 Months), with an annual simple flat interest rate of 9% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 10,000


Annual simple interest rate, R = 9%


From date: Mar 21, 2018


To date: Apr 21, 2023


Duration, T = 1,857 days (61 Months)


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 × 9% × 1,857) ÷ 365 =


(10,000 × 9 × 1,857) ÷ (365 × 100) =


167,130,000 ÷ 36,500 =


4,578.904109589041 ≈


4,578.9

B = Amount earned:

B = P + I =


10,000 + 4,578.904109589041 =


14,578.904109589041 ≈


14,578.9

Signs: % percent, ÷ divide, × multiply, ≈ approximately equal;

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Calculate simple flat rate interest on a principal borrowed, lent

Simple flat rate interest = (Principal × Annual simple flat interest rate × Duration in days) ÷ Number of days in a year

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