Principal (initial amount), P = 150,000
Annual simple interest rate, R = 1.5%
From date: Feb 8, 2018
To date: May 8, 2018
Duration, T = 89 days (3 Months)
Commission fee (withdrawal or payment), F = 0%
No. of days in a year, N = 365
I = Simple interest:
I = (P × R × T) ÷ N =
(150,000 × 1.5% × 89) ÷ 365 =
(150,000 × 1.5 × 89) ÷ (365 × 100) =
20,025,000 ÷ 36,500 ≈
548.630136986301 ≈
548.63
B = Amount earned:
B = P + I =
150,000 + 548.630136986301 =
150,548.630136986301 ≈
150,548.63