#### Principal (initial amount), P = 4,000

#### Annual simple interest rate, R = 3%

#### From date: Jan 1, 2017

#### To date: Jun 1, 2017

#### Duration, T = 151 days (5 Months)

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

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

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (4,000 × 3% × 151) ÷ 365 =

#### (4,000 × 3 × 151) ÷ (365 × 100) =

#### 1,812,000 ÷ 36,500 ≈

#### 49.643835616438 ≈

#### 49.64

## B = Amount earned:

#### B = P + I =

#### 4,000 + 49.643835616438 =

#### 4,049.643835616438 ≈

#### 4,049.64