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: Apr 18, 760, to date: Apr 18, 866, namely for a period of 38,716 days (1,272 Months), with an annual simple flat interest rate of 15% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1


Annual simple interest rate, R = 15%


From date: Apr 18, 760


To date: Apr 18, 866


Duration, T = 38,716 days (1,272 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 × 15% × 38,716) ÷ 365 =


(1 × 15 × 38,716) ÷ (365 × 100) =


580,740 ÷ 36,500 ≈


15.910684931507 ≈


15.91

B = Amount earned:

B = P + I =


1 + 15.910684931507 =


16.910684931507 ≈


16.91

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

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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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