Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 15 units (Dollar, Euro, Pound, etc.), from date: Feb 16, 2018, to date: Jul 16, 2018, namely for a period of 150 days (5 Months), with an annual simple flat interest rate of 1,350% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 15


Annual simple interest rate, R = 1,350%


From date: Feb 16, 2018


To date: Jul 16, 2018


Duration, T = 150 days (5 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(15 × 1,350% × 150) ÷ 365 =


(15 × 1,350 × 150) ÷ (365 × 100) =


3,037,500 ÷ 36,500 ≈


83.219178082192 ≈


83.22

B = Amount earned:

B = P + I =


15 + 83.219178082192 =


98.219178082192 ≈


98.22

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