Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 15,000 units (Dollar, Euro, Pound, etc.), from date: Jan 18, 2017, to date: Dec 31, 2017, namely for a period of 347 days (11 Months and 13 Days), with an annual simple flat interest rate of 0.8% if the commission fee (withdrawal) is 842%.

Principal (initial amount), P = 15,000


Annual simple interest rate, R = 0.8%


From date: Jan 18, 2017


To date: Dec 31, 2017


Duration, T = 347 days (11 Months and 13 Days)


Commission fee (withdrawal), F = 842%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(15,000 × 0.8% × 347) ÷ 365 =


(15,000 × 0.8 × 347) ÷ (365 × 100) =


4,164,000 ÷ 36,500 ≈


114.082191780822 ≈


114.08

B = Amount earned before deducting the
commission fee (withdrawal):

B = P + I =


15,000 + 114.082191780822 =


15,114.082191780822 ≈


15,114.08

D = Amount earned after deducting the
commission fee (withdrawal):

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 842%) × 15,114.082191780822 =


- 742% × 15,114.082191780822 ≈


- 112,146.489863013699 ≈


- 112,146.49

Pr = Investment profit:

Pr = D - P =


- 112,146.489863013699 - 15,000 =


- 127,146.489863013699 ≈


- 127,146.49

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