Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100,000 units (Dollar, Euro, Pound, etc.), from date: Dec 24, 2018, to date: Jun 24, 2019, namely for a period of 182 days (6 Months), with an annual simple flat interest rate of 0.75% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 100,000


Annual simple interest rate, R = 0.75%


From date: Dec 24, 2018


To date: Jun 24, 2019


Duration, T = 182 days (6 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(100,000 × 0.75% × 182) ÷ 365 =


(100,000 × 0.75 × 182) ÷ (365 × 100) =


13,650,000 ÷ 36,500 =


373.972602739726 ≈


373.97

B = Amount earned:

B = P + I =


100,000 + 373.972602739726 =


100,373.972602739726 ≈


100,373.97

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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