Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 160,000 units (Dollar, Euro, Pound, etc.), from date: Mar 27, 654, to date: Feb 27, 2019, namely for a period of 498,528 days (16,379 Months), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 160,000


Annual simple interest rate, R = 6%


From date: Mar 27, 654


To date: Feb 27, 2019


Duration, T = 498,528 days (16,379 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(160,000 × 6% × 498,528) ÷ 365 =


(160,000 × 6 × 498,528) ÷ (365 × 100) =


478,586,880,000 ÷ 36,500 ≈


13,111,969.315068493151 ≈


13,111,969.32

B = Amount earned:

B = P + I =


160,000 + 13,111,969.315068493151 =


13,271,969.315068493151 ≈


13,271,969.32

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