Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 138 units (Dollar, Euro, Pound, etc.), from date: Jan 1, 1, to date: Jan 1, 9999, namely for a period of days, with an annual simple flat interest rate of 15% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 138


Annual simple interest rate, R = 15%


From date: Jan 1, 1


To date: Jan 1, 9999


Duration, T = days


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(138 × 15% × ) ÷ 365 =


(138 × 15 × ) ÷ (365 × 100) =


0 ÷ 36,500 =


0

B = Amount earned:

B = P + I =


138 + 0 =


138

Signs: % percent, ÷ divide, × multiply, = 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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