#### Principal (initial amount), P = 11,300

#### Annual simple interest rate, R = 1%

#### From date: Nov 24, 2018

#### To date: May 24, 2019

#### Duration, T = 181 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 =

#### (11,300 × 1% × 181) ÷ 365 =

#### (11,300 × 1 × 181) ÷ (365 × 100) =

#### 2,045,300 ÷ 36,500 ≈

#### 56.035616438356 ≈

#### 56.04

## B = Amount earned:

#### B = P + I =

#### 11,300 + 56.035616438356 =

#### 11,356.035616438356 ≈

#### 11,356.04