Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 12,000 units (Dollar, Euro, Pound, etc.), from date: Jun 19, 300, to date: Jun 19, 2017, namely for a period of 627,122 days (20,604 Months), with an annual simple flat interest rate of 5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 12,000


Annual simple interest rate, R = 5%


From date: Jun 19, 300


To date: Jun 19, 2017


Duration, T = 627,122 days (20,604 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(12,000 × 5% × 627,122) ÷ 365 =


(12,000 × 5 × 627,122) ÷ (365 × 100) =


37,627,320,000 ÷ 36,500 ≈


1,030,885.479452054795 ≈


1,030,885.48

B = Amount earned:

B = P + I =


12,000 + 1,030,885.479452054795 =


1,042,885.479452054795 ≈


1,042,885.48

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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