Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,371,834.7 units (Dollar, Euro, Pound, etc.), from date: Sep 9, 2019, to date: Dec 31, 2019, namely for a period of 113 days (3 Months and 22 Days), with an annual simple flat interest rate of 2.5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1,371,834.7


Annual simple interest rate, R = 2.5%


From date: Sep 9, 2019


To date: Dec 31, 2019


Duration, T = 113 days (3 Months and 22 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1,371,834.7 × 2.5% × 113) ÷ 365 =


(1,371,834.7 × 2.5 × 113) ÷ (365 × 100) =


387,543,302.75 ÷ 36,500 ≈


10,617.624732876712 ≈


10,617.62

B = Amount earned:

B = P + I =


1,371,834.7 + 10,617.624732876712 =


1,382,452.324732876712 ≈


1,382,452.32

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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