#### Principal (initial amount), P = 2,000

#### Annual simple interest rate, R = 20%

#### From date: May 18, 2017

#### To date: Jun 18, 2017

#### Duration, T = 31 days

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

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

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (2,000 × 20% × 31) ÷ 365 =

#### (2,000 × 20 × 31) ÷ (365 × 100) =

#### 1,240,000 ÷ 36,500 =

#### 33.972602739726 ≈

#### 33.97

## B = Amount earned:

#### B = P + I =

#### 2,000 + 33.972602739726 =

#### 2,033.972602739726 ≈

#### 2,033.97