#### Principal (initial amount), P = 952

#### Annual simple interest rate, R = 8%

#### From date: Feb 6, 2018

#### To date: Jun 6, 2018

#### Duration, T = 120 days (4 Months)

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

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

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (952 × 8% × 120) ÷ 365 =

#### (952 × 8 × 120) ÷ (365 × 100) =

#### 913,920 ÷ 36,500 =

#### 25.038904109589 ≈

#### 25.04

## B = Amount earned:

#### B = P + I =

#### 952 + 25.038904109589 =

#### 977.038904109589 ≈

#### 977.04