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 7, 2017, to date: May 7, 2018, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal) is 768%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 3%


From date: May 7, 2017


To date: May 7, 2018


Duration, T = 365 days (12 Months)


Commission fee (withdrawal), F = 768%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100 × 3% × 365) ÷ 365 =


(100 × 3 × 365) ÷ (365 × 100) =


109,500 ÷ 36,500 =


3

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

B = P + I =


100 + 3 =


103

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 768%) × 103 =


- 668% × 103 =


- 688.04

Pr = Investment profit:

Pr = D - P =


- 688.04 - 100 =


- 788.04

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

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

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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