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 17, 2017, to date: May 17, 2020, namely for a period of 1,096 days (36 Months), with an annual simple flat interest rate of 606% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100


Annual simple interest rate, R = 606%


From date: May 17, 2017


To date: May 17, 2020


Duration, T = 1,096 days (36 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 × 606% × 1,096) ÷ 365 =


(100 × 606 × 1,096) ÷ (365 × 100) =


66,417,600 ÷ 36,500 ≈


1,819.660273972603 ≈


1,819.66

B = Amount earned:

B = P + I =


100 + 1,819.660273972603 =


1,919.660273972603 ≈


1,919.66

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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