Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Jun 24, 642, to date: May 24, 2017, namely for a period of 502,178 days (16,499 Months), with an annual simple flat interest rate of - 3% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = - 3%


From date: Jun 24, 642


To date: May 24, 2017


Duration, T = 502,178 days (16,499 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100 × - 3% × 502,178) ÷ 365 =


(100 × - 3 × 502,178) ÷ (365 × 100) =


- 150,653,400 ÷ 36,500 ≈


- 4,127.490410958904 ≈


- 4,127.49

B = Amount earned:

B = P + I =


100 + (- 4,127.490410958904) =


100 - 4,127.490410958904 =


- 4,027.490410958904 ≈


- 4,027.49

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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