#### Principal (initial amount), P = 20,000

#### Annual simple interest rate, R = 10%

#### From date: Jun 15, 2007

#### To date: Jun 15, 2017

#### Duration, T = 3,653 days (120 Months)

#### Commission fee (withdrawal or payment), F = 0%

#### No. of days in a year, N = 365

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (20,000 × 10% × 3,653) ÷ 365 =

#### (20,000 × 10 × 3,653) ÷ (365 × 100) =

#### 730,600,000 ÷ 36,500 ≈

#### 20,016.438356164384 ≈

#### 20,016.44

## B = Amount earned:

#### B = P + I =

#### 20,000 + 20,016.438356164384 =

#### 40,016.438356164384 ≈

#### 40,016.44