Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 250 units (Dollar, Euro, Pound, etc.), from date: Feb 9, 2013, to date: Feb 9, 2018, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 6.8% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 250


Annual simple interest rate, R = 6.8%


From date: Feb 9, 2013


To date: Feb 9, 2018


Duration, T = 1,826 days (60 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(250 × 6.8% × 1,826) ÷ 365 =


(250 × 6.8 × 1,826) ÷ (365 × 100) =


3,104,200 ÷ 36,500 ≈


85.046575342466 ≈


85.05

B = Amount earned:

B = P + I =


250 + 85.046575342466 =


335.046575342466 ≈


335.05

Signs: % percent, ÷ divide, × multiply, ≈ 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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