Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1.4 units (Dollar, Euro, Pound, etc.), from date: Feb 27, 1986, to date: Nov 27, 2017, namely for a period of 11,596 days (381 Months), with an annual simple flat interest rate of 342% if the commission fee (withdrawal) is 0%.

Principal (initial amount), P = 1.4


Annual simple interest rate, R = 342%


From date: Feb 27, 1986


To date: Nov 27, 2017


Duration, T = 11,596 days (381 Months)


Commission fee (withdrawal), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1.4 × 342% × 11,596) ÷ 365 =


(1.4 × 342 × 11,596) ÷ (365 × 100) =


5,552,164.8 ÷ 36,500 =


152.114104109589 ≈


152.11

B = Amount earned:

B = P + I =


1.4 + 152.114104109589 =


153.514104109589 ≈


153.51

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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