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 3, 2017, to date: Jun 3, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 802%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 3%


From date: May 3, 2017


To date: Jun 3, 2017


Duration, T = 31 days


Commission fee (withdrawal or payment), F = 802%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100 × 3% × 31) ÷ 365 =


(100 × 3 × 31) ÷ (365 × 100) =


9,300 ÷ 36,500 ≈


0.254794520548 ≈


0.25

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

B = P + I =


100 + 0.254794520548 =


100.254794520548 ≈


100.25

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 802%) × 100.254794520548 =


- 702% × 100.254794520548 ≈


- 703.788657534247 ≈


- 703.79

Pr = Investment profit:

Pr = D - P =


- 703.788657534247 - 100 =


- 803.788657534247 ≈


- 803.79

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