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 14, 548, to date: May 14, 2018, namely for a period of 536,936 days (17,641 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 2%


From date: Apr 14, 548


To date: May 14, 2018


Duration, T = 536,936 days (17,641 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 × 2% × 536,936) ÷ 365 =


(100 × 2 × 536,936) ÷ (365 × 100) =


107,387,200 ÷ 36,500 ≈


2,942.115068493151 ≈


2,942.12

B = Amount earned:

B = P + I =


100 + 2,942.115068493151 =


3,042.115068493151 ≈


3,042.12

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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