Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,500 units (Dollar, Euro, Pound, etc.), from date: Jan 1, 2009, to date: Aug 31, 2018, namely for a period of 3,529 days (115 Months and 30 Days), with an annual simple flat interest rate of 7.3% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 2,500


Annual simple interest rate, R = 7.3%


From date: Jan 1, 2009


To date: Aug 31, 2018


Duration, T = 3,529 days (115 Months and 30 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(2,500 × 7.3% × 3,529) ÷ 365 =


(2,500 × 7.3 × 3,529) ÷ (365 × 100) =


64,404,250 ÷ 36,500 =


1,764.5

B = Amount earned:

B = P + I =


2,500 + 1,764.5 =


4,264.5

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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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