Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,792.93 units (Dollar, Euro, Yen, Pound, Franc, etc.), from date: Mar 24, 2017, to date: Aug 22, 2017, namely for a period of 151 days (5 Months without 2 Days), with an annual simple flat interest rate of 4% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 4,792.93


Annual simple interest rate, R = 4%


From date: Mar 24, 2017


To date: Aug 22, 2017


Duration, T = 151 days (5 Months without 2 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(4,792.93 × 4% × 151) ÷ 365 =


(4,792.93 × 4 × 151) ÷ (365 × 100) =


2,894,929.72 ÷ 36,500 ≈


79.313143013699 ≈


79.31

B = Amount earned:

B = P + I =


4,792.93 + 79.313143013699 =


4,872.243143013699 ≈


4,872.24

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

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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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