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: Feb 11, 744, to date: Mar 11, 980, namely for a period of 86,227 days (2,833 Months), with an annual simple flat interest rate of 0.03% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1

Annual simple interest rate, R = 0.03%

From date: Feb 11, 744

To date: Mar 11, 980

Duration, T = 86,227 days (2,833 Months)

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

No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =

(1 × 0.03% × 86,227) ÷ 365 =

(1 × 0.03 × 86,227) ÷ (365 × 100) =

2,586.81 ÷ 36,500 ≈

0.070871506849 ≈

0.07

B = Amount earned:

B = P + I =

1 + 0.070871506849 =

1.070871506849 ≈

1.07

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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