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: Dec 23, 934, to date: Jan 23, 2019, namely for a period of 395,954 days (13,009 Months), with an annual simple flat interest rate of 24% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1,000


Annual simple interest rate, R = 24%


From date: Dec 23, 934


To date: Jan 23, 2019


Duration, T = 395,954 days (13,009 Months)


Commission fee (withdrawal or payment), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1,000 × 24% × 395,954) ÷ 365 =


(1,000 × 24 × 395,954) ÷ (365 × 100) =


9,502,896,000 ÷ 36,500 ≈


260,353.315068493151 ≈


260,353.32

B = Amount earned:

B = P + I =


1,000 + 260,353.315068493151 =


261,353.315068493151 ≈


261,353.32

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