Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2.049 units (Dollar, Euro, Pound, etc.), from date: May 10, 2017, to date: Jun 10, 2019, namely for a period of 761 days (25 Months), with an annual simple flat interest rate of 8% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 2.049


Annual simple interest rate, R = 8%


From date: May 10, 2017


To date: Jun 10, 2019


Duration, T = 761 days (25 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(2.049 × 8% × 761) ÷ 365 =


(2.049 × 8 × 761) ÷ (365 × 100) =


12,474.312 ÷ 36,500 ≈


0.341761972603 ≈


0.34

B = Amount earned:

B = P + I =


2.049 + 0.341761972603 =


2.390761972603 ≈


2.39

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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