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: Jul 1, 2010, to date: Dec 31, 2010, namely for a period of 183 days (5 Months and 30 Days), with an annual simple flat interest rate of 2% if the commission fee (withdrawal) is 864%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 2%


From date: Jul 1, 2010


To date: Dec 31, 2010


Duration, T = 183 days (5 Months and 30 Days)


Commission fee (withdrawal), F = 864%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100 × 2% × 183) ÷ 365 =


(100 × 2 × 183) ÷ (365 × 100) =


36,600 ÷ 36,500 ≈


1.002739726027 ≈


1

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

B = P + I =


100 + 1.002739726027 =


101.002739726027 ≈


101

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 864%) × 101.002739726027 =


- 764% × 101.002739726027 ≈


- 771.660931506846 ≈


- 771.66

Pr = Investment profit:

Pr = D - P =


- 771.660931506846 - 100 =


- 871.660931506846 ≈


- 871.66

Signs: % percent, ÷ divide, × multiply, = equal, ≈ approximately equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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Simple flat rate interest = (Principal × Annual simple flat interest rate × Duration in days) ÷ Number of days in a year

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