Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 300,000 units (Dollar, Euro, Pound, etc.), from date: Jul 26, 2018, to date: Aug 26, 2021, namely for a period of 1,127 days (37 Months), with an annual simple flat interest rate of 8% if the commission fee (withdrawal or payment) is 2%.

Principal (initial amount), P = 300,000


Annual simple interest rate, R = 8%


From date: Jul 26, 2018


To date: Aug 26, 2021


Duration, T = 1,127 days (37 Months)


Commission fee (withdrawal or payment), F = 2%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(300,000 × 8% × 1,127) ÷ 365 =


(300,000 × 8 × 1,127) ÷ (365 × 100) =


2,704,800,000 ÷ 36,500 ≈


74,104.109589041096 ≈


74,104.11

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

B = P + I =


300,000 + 74,104.109589041096 =


374,104.109589041096 ≈


374,104.11

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 2%) × 374,104.109589041096 =


98% × 374,104.109589041096 =


366,622.027397260274 ≈


366,622.03

Pr = Investment profit:

Pr = D - P =


366,622.027397260274 - 300,000 =


66,622.027397260274 ≈


66,622.03

Signs: % percent, ÷ divide, × multiply, ≈ approximately equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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