#### Principal (initial amount), P = 150,000

#### Annual simple interest rate, R = 12%

#### From date: Jan 7, 2018

#### To date: Jan 7, 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 =

#### (150,000 × 12% × 365) ÷ 365 =

#### (150,000 × 12 × 365) ÷ (365 × 100) =

#### 657,000,000 ÷ 36,500 =

#### 18,000

## B = Amount earned:

#### B = P + I =

#### 150,000 + 18,000 =

#### 168,000