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: Oct 12, 2000, to date: Nov 12, 2018, namely for a period of 6,605 days (217 Months), with an annual simple flat interest rate of 28% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1,000


Annual simple interest rate, R = 28%


From date: Oct 12, 2000


To date: Nov 12, 2018


Duration, T = 6,605 days (217 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 × 28% × 6,605) ÷ 365 =


(1,000 × 28 × 6,605) ÷ (365 × 100) =


184,940,000 ÷ 36,500 ≈


5,066.849315068493 ≈


5,066.85

B = Amount earned:

B = P + I =


1,000 + 5,066.849315068493 =


6,066.849315068493 ≈


6,066.85

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