Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1 units (Dollar, Euro, Pound, etc.), from date: May 25, 2018, to date: Jun 25, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 984%.

Principal (initial amount), P = 1


Annual simple interest rate, R = 0.02%


From date: May 25, 2018


To date: Jun 25, 2018


Duration, T = 31 days


Commission fee (withdrawal or payment), F = 984%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1 × 0.02% × 31) ÷ 365 =


(1 × 0.02 × 31) ÷ (365 × 100) =


0.62 ÷ 36,500 ≈


0.000016986301 ≈


0

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

B = P + I =


1 + 0.000016986301 =


1.000016986301 ≈


1

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 984%) × 1.000016986301 =


- 884% × 1.000016986301 ≈


- 8.840150158901 ≈


- 8.84

Pr = Investment profit:

Pr = D - P =


- 8.840150158901 - 1 =


- 9.840150158901 ≈


- 9.84

Signs: % percent, ÷ divide, × multiply, = equal, ≈ 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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