#### Principal (initial amount), P = 194

#### Annual simple interest rate, R = 3%

#### From date: Jun 8, 2017

#### To date: Jul 8, 2017

#### Duration, T = 30 days

#### Commission fee (withdrawal), F = 0%

#### No. of days in a year, N = 365

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (194 × 3% × 30) ÷ 365 =

#### (194 × 3 × 30) ÷ (365 × 100) =

#### 17,460 ÷ 36,500 ≈

#### 0.478356164384 ≈

#### 0.48

## B = Amount earned:

#### B = P + I =

#### 194 + 0.478356164384 =

#### 194.478356164384 ≈

#### 194.48