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