Principal (initial amount), P = 1,280
Annual simple interest rate, R = 235%
From date: Jul 6, 2018
To date: Jul 6, 2019
Duration, T = 365 days (12 Months)
Commission fee (withdrawal or payment), F = 0%
No. of days in a year, N = 365
I = Simple interest:
I = (P × R × T) ÷ N =
(1,280 × 235% × 365) ÷ 365 =
(1,280 × 235 × 365) ÷ (365 × 100) =
109,792,000 ÷ 36,500 =
3,008
B = Amount earned:
B = P + I =
1,280 + 3,008 =
4,288