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: Mar 31, 916, to date: Mar 1, 2017, namely for a period of 402,102 days (13,212 Months without 30 Days), with an annual simple flat interest rate of 6.25% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1,000


Annual simple interest rate, R = 6.25%


From date: Mar 31, 916


To date: Mar 1, 2017


Duration, T = 402,102 days (13,212 Months without 30 Days)


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 × 6.25% × 402,102) ÷ 365 =


(1,000 × 6.25 × 402,102) ÷ (365 × 100) =


2,513,137,500 ÷ 36,500 ≈


68,853.082191780822 ≈


68,853.08

B = Amount earned:

B = P + I =


1,000 + 68,853.082191780822 =


69,853.082191780822 ≈


69,853.08

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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