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: Sep 23, 468, to date: Oct 23, 2018, namely for a period of 566,155 days (18,601 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: Sep 23, 468


To date: Oct 23, 2018


Duration, T = 566,155 days (18,601 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% × 566,155) ÷ 365 =


(100 × 2 × 566,155) ÷ (365 × 100) =


113,231,000 ÷ 36,500 ≈


3,102.219178082192 ≈


3,102.22

B = Amount earned:

B = P + I =


100 + 3,102.219178082192 =


3,202.219178082192 ≈


3,202.22

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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