Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 10 units (Dollar, Euro, Pound, etc.), from date: Dec 18, 150, to date: Nov 18, 314, namely for a period of 59,869 days (1,967 Months), with an annual simple flat interest rate of 0.5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 10


Annual simple interest rate, R = 0.5%


From date: Dec 18, 150


To date: Nov 18, 314


Duration, T = 59,869 days (1,967 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(10 × 0.5% × 59,869) ÷ 365 =


(10 × 0.5 × 59,869) ÷ (365 × 100) =


299,345 ÷ 36,500 ≈


8.201232876712 ≈


8.2

B = Amount earned:

B = P + I =


10 + 8.201232876712 =


18.201232876712 ≈


18.2

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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