Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 166 units (Dollar, Euro, Pound, etc.), from date: Mar 11, 2019, to date: Mar 11, 2020, namely for a period of 366 days (12 Months), with an annual simple flat interest rate of 2.5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 166


Annual simple interest rate, R = 2.5%


From date: Mar 11, 2019


To date: Mar 11, 2020


Duration, T = 366 days (12 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(166 × 2.5% × 366) ÷ 365 =


(166 × 2.5 × 366) ÷ (365 × 100) =


151,890 ÷ 36,500 ≈


4.161369863014 ≈


4.16

B = Amount earned:

B = P + I =


166 + 4.161369863014 =


170.161369863014 ≈


170.16

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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