Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,400 units (Dollar, Euro, Pound, etc.), from date: May 22, 2017, to date: Sep 22, 2021, namely for a period of 1,584 days (52 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 2,400


Annual simple interest rate, R = 10%


From date: May 22, 2017


To date: Sep 22, 2021


Duration, T = 1,584 days (52 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(2,400 × 10% × 1,584) ÷ 365 =


(2,400 × 10 × 1,584) ÷ (365 × 100) =


38,016,000 ÷ 36,500 ≈


1,041.534246575342 ≈


1,041.53

B = Amount earned:

B = P + I =


2,400 + 1,041.534246575342 =


3,441.534246575342 ≈


3,441.53

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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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