Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 3,105 units (Dollar, Euro, Pound, etc.), from date: Aug 1, 2008, to date: Mar 14, 2018, namely for a period of 3,512 days (115 Months and 13 Days), with an annual simple flat interest rate of 11% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 3,105


Annual simple interest rate, R = 11%


From date: Aug 1, 2008


To date: Mar 14, 2018


Duration, T = 3,512 days (115 Months and 13 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(3,105 × 11% × 3,512) ÷ 365 =


(3,105 × 11 × 3,512) ÷ (365 × 100) =


119,952,360 ÷ 36,500 ≈


3,286.36602739726 ≈


3,286.37

B = Amount earned:

B = P + I =


3,105 + 3,286.36602739726 =


6,391.36602739726 ≈


6,391.37

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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