#### Principal (initial amount), P = 14,400

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

#### From date: Jan 25, 2018

#### To date: Jul 25, 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 =

#### (14,400 × 3% × 181) ÷ 365 =

#### (14,400 × 3 × 181) ÷ (365 × 100) =

#### 7,819,200 ÷ 36,500 ≈

#### 214.224657534247 ≈

#### 214.22

## B = Amount earned:

#### B = P + I =

#### 14,400 + 214.224657534247 =

#### 14,614.224657534247 ≈

#### 14,614.22