Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 6,000 units (Dollar, Euro, Pound, etc.), from date: Oct 12, 2018, to date: Nov 12, 2058, namely for a period of 14,641 days (481 Months), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 6,000


Annual simple interest rate, R = 6%


From date: Oct 12, 2018


To date: Nov 12, 2058


Duration, T = 14,641 days (481 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(6,000 × 6% × 14,641) ÷ 365 =


(6,000 × 6 × 14,641) ÷ (365 × 100) =


527,076,000 ÷ 36,500 ≈


14,440.438356164384 ≈


14,440.44

B = Amount earned:

B = P + I =


6,000 + 14,440.438356164384 =


20,440.438356164384 ≈


20,440.44

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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