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: May 22, 150, to date: Jun 22, 2009, namely for a period of 679,017 days (22,309 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: May 22, 150


To date: Jun 22, 2009


Duration, T = 679,017 days (22,309 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% × 679,017) ÷ 365 =


(100 × 3 × 679,017) ÷ (365 × 100) =


203,705,100 ÷ 36,500 ≈


5,580.961643835616 ≈


5,580.96

B = Amount earned:

B = P + I =


100 + 5,580.961643835616 =


5,680.961643835616 ≈


5,680.96

Signs: % percent, ÷ divide, × multiply, ≈ 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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