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 5, 2018, to date: May 5, 2021, namely for a period of 1,096 days (36 Months), with an annual simple flat interest rate of 2.35% if the commission fee (withdrawal) is 570%.

Principal (initial amount), P = 1,000


Annual simple interest rate, R = 2.35%


From date: May 5, 2018


To date: May 5, 2021


Duration, T = 1,096 days (36 Months)


Commission fee (withdrawal), F = 570%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1,000 × 2.35% × 1,096) ÷ 365 =


(1,000 × 2.35 × 1,096) ÷ (365 × 100) =


2,575,600 ÷ 36,500 ≈


70.564383561644 ≈


70.56

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

B = P + I =


1,000 + 70.564383561644 =


1,070.564383561644 ≈


1,070.56

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 570%) × 1,070.564383561644 =


- 470% × 1,070.564383561644 ≈


- 5,031.652602739727 ≈


- 5,031.65

Pr = Investment profit:

Pr = D - P =


- 5,031.652602739727 - 1,000 =


- 6,031.652602739727 ≈


- 6,031.65

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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