Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 8,995 units (Dollar, Euro, Yen, Pound, Franc, etc.), from date: May 27, 2017, to date: Dec 27, 2017, namely for a period of 214 days (7 Months), with an annual simple flat interest rate of 1% if the commission fee (withdrawal or payment) is 0.2%.

Principal (initial amount), P = 8,995


Annual simple interest rate, R = 1%


From date: May 27, 2017


To date: Dec 27, 2017


Duration, T = 214 days (7 Months)


Commission fee (withdrawal or payment), F = 0.2%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(8,995 × 1% × 214) ÷ 365 =


(8,995 × 1 × 214) ÷ (365 × 100) =


1,924,930 ÷ 36,500 =


52.737808219178 ≈


52.74

B = Amount earned before deducting the
commission fee (withdrawal or payment):

B = P + I =


8,995 + 52.737808219178 =


9,047.737808219178 ≈


9,047.74

D = Amount earned after deducting the
commission fee (withdrawal or payment):

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 0.2%) × 9,047.737808219178 =


99.8% × 9,047.737808219178 ≈


9,029.64233260274 ≈


9,029.64

Pr = Investment profit:

Pr = D - P =


9,029.64233260274 - 8,995 =


34.64233260274 ≈


34.64

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

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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