#### Principal (initial amount), P = 500

#### Annual simple interest rate, R = 0.8%

#### From date: Apr 24, 2017

#### To date: May 24, 2017

#### Duration, T = 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 =

#### (500 × 0.8% × 30) ÷ 365 =

#### (500 × 0.8 × 30) ÷ (365 × 100) =

#### 12,000 ÷ 36,500 ≈

#### 0.328767123288 ≈

#### 0.33

## B = Amount earned:

#### B = P + I =

#### 500 + 0.328767123288 =

#### 500.328767123288 ≈

#### 500.33