Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,500 units (Dollar, Euro, Pound, etc.), from date: Jan 28, 2012, to date: Jun 1, 2019, namely for a period of 2,681 days (89 Months without 27 Days), with an annual simple flat interest rate of 0.002% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 1,500


Annual simple interest rate, R = 0.002%


From date: Jan 28, 2012


To date: Jun 1, 2019


Duration, T = 2,681 days (89 Months without 27 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1,500 × 0.002% × 2,681) ÷ 365 =


(1,500 × 0.002 × 2,681) ÷ (365 × 100) =


8,043 ÷ 36,500 ≈


0.220356164384 ≈


0.22

B = Amount earned:

B = P + I =


1,500 + 0.220356164384 =


1,500.220356164384 ≈


1,500.22

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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