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: Jun 23, 570, to date: May 23, 2016, namely for a period of 528,110 days (17,351 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 3%


From date: Jun 23, 570


To date: May 23, 2016


Duration, T = 528,110 days (17,351 Months)


Commission fee (withdrawal), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100 × 3% × 528,110) ÷ 365 =


(100 × 3 × 528,110) ÷ (365 × 100) =


158,433,000 ÷ 36,500 ≈


4,340.630136986301 ≈


4,340.63

B = Amount earned:

B = P + I =


100 + 4,340.630136986301 =


4,440.630136986301 ≈


4,440.63

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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