#### Principal (initial amount), P = 402.22

#### Annual simple interest rate, R = 1%

#### From date: Jun 29, 2016

#### To date: Jul 30, 2017

#### Duration, T = 396 days (13 Months and 1 Day)

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

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

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (402.22 × 1% × 396) ÷ 365 =

#### (402.22 × 1 × 396) ÷ (365 × 100) =

#### 159,279.12 ÷ 36,500 ≈

#### 4.363811506849 ≈

#### 4.36

## B = Amount earned:

#### B = P + I =

#### 402.22 + 4.363811506849 =

#### 406.583811506849 ≈

#### 406.58