Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 104 units (Dollar, Euro, Pound, etc.), from date: Oct 1, 2008, to date: Mar 30, 2011, namely for a period of 910 days (29 Months and 29 Days), with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 560%.

Principal (initial amount), P = 104


Annual simple interest rate, R = 3%


From date: Oct 1, 2008


To date: Mar 30, 2011


Duration, T = 910 days (29 Months and 29 Days)


Commission fee (withdrawal or payment), F = 560%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(104 × 3% × 910) ÷ 365 =


(104 × 3 × 910) ÷ (365 × 100) =


283,920 ÷ 36,500 ≈


7.778630136986 ≈


7.78

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

B = P + I =


104 + 7.778630136986 =


111.778630136986 ≈


111.78

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 560%) × 111.778630136986 =


- 460% × 111.778630136986 ≈


- 514.181698630136 ≈


- 514.18

Pr = Investment profit:

Pr = D - P =


- 514.181698630136 - 104 =


- 618.181698630136 ≈


- 618.18

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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