Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 3,015 units (Dollar, Euro, Pound, etc.), from date: Nov 30, 2007, to date: Feb 28, 2018, namely for a period of 3,743 days (123 Months without 2 Days), with an annual simple flat interest rate of 290% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 3,015


Annual simple interest rate, R = 290%


From date: Nov 30, 2007


To date: Feb 28, 2018


Duration, T = 3,743 days (123 Months without 2 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(3,015 × 290% × 3,743) ÷ 365 =


(3,015 × 290 × 3,743) ÷ (365 × 100) =


3,272,692,050 ÷ 36,500 ≈


89,662.795890410959 ≈


89,662.8

B = Amount earned:

B = P + I =


3,015 + 89,662.795890410959 =


92,677.795890410959 ≈


92,677.8

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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