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: Apr 1, 702, to date: May 1, 2017, namely for a period of 480,325 days (15,781 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 0%


From date: Apr 1, 702


To date: May 1, 2017


Duration, T = 480,325 days (15,781 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 × 0% × 480,325) ÷ 365 =


(100 × 0 × 480,325) ÷ (365 × 100) =


0 ÷ 36,500 =


0

B = Amount earned:

B = P + I =


100 + 0 =


100

Signs: % percent, ÷ divide, × multiply;

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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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