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: Oct 14, 1998, to date: Jun 14, 2017, namely for a period of 6,818 days (224 Months), with an annual simple flat interest rate of 1% if the commission fee (withdrawal) is 0.2%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 1%


From date: Oct 14, 1998


To date: Jun 14, 2017


Duration, T = 6,818 days (224 Months)


Commission fee (withdrawal), F = 0.2%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100 × 1% × 6,818) ÷ 365 =


(100 × 1 × 6,818) ÷ (365 × 100) =


681,800 ÷ 36,500 ≈


18.679452054795 ≈


18.68

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

B = P + I =


100 + 18.679452054795 =


118.679452054795 ≈


118.68

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 0.2%) × 118.679452054795 =


99.8% × 118.679452054795 ≈


118.442093150685 ≈


118.44

Pr = Investment profit:

Pr = D - P =


118.442093150685 - 100 =


18.442093150685 ≈


18.44

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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