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: May 23, 426, to date: Jun 23, 2017, namely for a period of 581,132 days (19,093 Months), with an annual simple flat interest rate of 1.75% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 1.75%


From date: May 23, 426


To date: Jun 23, 2017


Duration, T = 581,132 days (19,093 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 × 1.75% × 581,132) ÷ 365 =


(100 × 1.75 × 581,132) ÷ (365 × 100) =


101,698,100 ÷ 36,500 ≈


2,786.249315068493 ≈


2,786.25

B = Amount earned:

B = P + I =


100 + 2,786.249315068493 =


2,886.249315068493 ≈


2,886.25

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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