Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 3,000 units (Dollar, Euro, Pound, etc.), from date: Mar 15, 758, to date: Mar 15, 2019, namely for a period of 460,571 days (15,132 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 3,000


Annual simple interest rate, R = 0.02%


From date: Mar 15, 758


To date: Mar 15, 2019


Duration, T = 460,571 days (15,132 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(3,000 × 0.02% × 460,571) ÷ 365 =


(3,000 × 0.02 × 460,571) ÷ (365 × 100) =


27,634,260 ÷ 36,500 ≈


757.10301369863 ≈


757.1

B = Amount earned:

B = P + I =


3,000 + 757.10301369863 =


3,757.10301369863 ≈


3,757.1

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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