Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,000 units (Dollar, Euro, Pound, etc.), from date: May 6, 2017, to date: May 6, 2037, namely for a period of 7,305 days (240 Months), with an annual simple flat interest rate of 0.5% if the commission fee (withdrawal or payment) is 806%.

Principal (initial amount), P = 1,000

Annual simple interest rate, R = 0.5%

From date: May 6, 2017

To date: May 6, 2037

Duration, T = 7,305 days (240 Months)

Commission fee (withdrawal or payment), F = 806%

No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =

(1,000 × 0.5% × 7,305) ÷ 365 =

(1,000 × 0.5 × 7,305) ÷ (365 × 100) =

3,652,500 ÷ 36,500 ≈

100.068493150685 ≈

100.07

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

B = P + I =

1,000 + 100.068493150685 =

1,100.068493150685 ≈

1,100.07

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

D = B - F =

B - F% × B =

(1 - F%) × B =

(1 - 806%) × 1,100.068493150685 =

- 706% × 1,100.068493150685 ≈

- 7,766.483561643836 ≈

- 7,766.48

Pr = Investment profit:

Pr = D - P =

- 7,766.483561643836 - 1,000 =

- 8,766.483561643836 ≈

- 8,766.48

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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