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: Dec 4, 306, to date: Nov 4, 2016, namely for a period of 624,536 days (20,519 Months), with an annual simple flat interest rate of 5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 5%


From date: Dec 4, 306


To date: Nov 4, 2016


Duration, T = 624,536 days (20,519 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 × 5% × 624,536) ÷ 365 =


(100 × 5 × 624,536) ÷ (365 × 100) =


312,268,000 ÷ 36,500 ≈


8,555.287671232877 ≈


8,555.29

B = Amount earned:

B = P + I =


100 + 8,555.287671232877 =


8,655.287671232877 ≈


8,655.29

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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