Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,000 units (Dollar, Euro, Pound, etc.), from date: Mar 7, 2018, to date: Mar 7, 2021, namely for a period of 1,096 days (36 Months), with an annual simple flat interest rate of 468% if the commission fee (withdrawal) is 0%.

Principal (initial amount), P = 2,000


Annual simple interest rate, R = 468%


From date: Mar 7, 2018


To date: Mar 7, 2021


Duration, T = 1,096 days (36 Months)


Commission fee (withdrawal), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(2,000 × 468% × 1,096) ÷ 365 =


(2,000 × 468 × 1,096) ÷ (365 × 100) =


1,025,856,000 ÷ 36,500 ≈


28,105.643835616438 ≈


28,105.64

B = Amount earned:

B = P + I =


2,000 + 28,105.643835616438 =


30,105.643835616438 ≈


30,105.64

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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