Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 11,000 units (Dollar, Euro, Pound, etc.), from date: Oct 9, 2017, to date: Nov 9, 2022, namely for a period of 1,857 days (61 Months), with an annual simple flat interest rate of 8.5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 11,000


Annual simple interest rate, R = 8.5%


From date: Oct 9, 2017


To date: Nov 9, 2022


Duration, T = 1,857 days (61 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(11,000 × 8.5% × 1,857) ÷ 365 =


(11,000 × 8.5 × 1,857) ÷ (365 × 100) =


173,629,500 ÷ 36,500 =


4,756.972602739726 ≈


4,756.97

B = Amount earned:

B = P + I =


11,000 + 4,756.972602739726 =


15,756.972602739726 ≈


15,756.97

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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