Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 18,800,000 units (Dollar, Euro, Yen, Pound, Franc, etc.), from date: Feb 23, 2018, to date: Mar 23, 2018, namely for a period of 28 days, with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 4%.

Principal (initial amount), P = 18,800,000


Annual simple interest rate, R = 12%


From date: Feb 23, 2018


To date: Mar 23, 2018


Duration, T = 28 days


Commission fee (withdrawal or payment), F = 4%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(18,800,000 × 12% × 28) ÷ 365 =


(18,800,000 × 12 × 28) ÷ (365 × 100) =


6,316,800,000 ÷ 36,500 ≈


173,063.013698630137 ≈


173,063.01

B = Amount earned before deducting the
commission fee (withdrawal or payment):

B = P + I =


18,800,000 + 173,063.013698630137 =


18,973,063.013698630137 ≈


18,973,063.01

D = Amount earned after deducting the
commission fee (withdrawal or payment):

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 4%) × 18,973,063.013698630137 =


96% × 18,973,063.013698630137 ≈


18,214,140.493150684932 ≈


18,214,140.49

Pr = Investment profit:

Pr = D - P =


18,214,140.493150684932 - 18,800,000 =


- 585,859.506849315068 ≈


- 585,859.51

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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