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: Oct 27, 536, to date: Jan 27, 2018, namely for a period of 541,016 days (17,775 Months), with an annual simple flat interest rate of 20% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 10


Annual simple interest rate, R = 20%


From date: Oct 27, 536


To date: Jan 27, 2018


Duration, T = 541,016 days (17,775 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 × 20% × 541,016) ÷ 365 =


(10 × 20 × 541,016) ÷ (365 × 100) =


108,203,200 ÷ 36,500 ≈


2,964.471232876712 ≈


2,964.47

B = Amount earned:

B = P + I =


10 + 2,964.471232876712 =


2,974.471232876712 ≈


2,974.47

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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