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: Jan 1, 558, to date: May 1, 2018, namely for a period of 533,374 days (17,524 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 3%


From date: Jan 1, 558


To date: May 1, 2018


Duration, T = 533,374 days (17,524 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 × 3% × 533,374) ÷ 365 =


(100 × 3 × 533,374) ÷ (365 × 100) =


160,012,200 ÷ 36,500 ≈


4,383.895890410959 ≈


4,383.9

B = Amount earned:

B = P + I =


100 + 4,383.895890410959 =


4,483.895890410959 ≈


4,483.9

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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