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: Feb 3, 2018, to date: Mar 3, 2018, namely for a period of 28 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 8%.

Principal (initial amount), P = 10


Annual simple interest rate, R = 2%


From date: Feb 3, 2018


To date: Mar 3, 2018


Duration, T = 28 days


Commission fee (withdrawal or payment), F = 8%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(10 × 2% × 28) ÷ 365 =


(10 × 2 × 28) ÷ (365 × 100) =


560 ÷ 36,500 ≈


0.015342465753 ≈


0.02

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

B = P + I =


10 + 0.015342465753 =


10.015342465753 ≈


10.02

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 8%) × 10.015342465753 =


92% × 10.015342465753 ≈


9.214115068493 ≈


9.21

Pr = Investment profit:

Pr = D - P =


9.214115068493 - 10 =


- 0.785884931507 ≈


- 0.79

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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