Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 952 units (Dollar, Euro, Pound, etc.), from date: Feb 6, 2018, to date: Jun 6, 2018, namely for a period of 120 days (4 Months), with an annual simple flat interest rate of 8% if the commission fee (withdrawal or payment) is 0%.

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

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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