Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 328 units (Dollar, Euro, Pound, etc.), from date: Oct 25, 968, to date: Nov 1, 1974, namely for a period of 367,440 days (12,073 Months without 24 Days), with an annual simple flat interest rate of 10% if the commission fee (withdrawal) is 0%.

Principal (initial amount), P = 328


Annual simple interest rate, R = 10%


From date: Oct 25, 968


To date: Nov 1, 1974


Duration, T = 367,440 days (12,073 Months without 24 Days)


Commission fee (withdrawal), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(328 × 10% × 367,440) ÷ 365 =


(328 × 10 × 367,440) ÷ (365 × 100) =


1,205,203,200 ÷ 36,500 ≈


33,019.265753424658 ≈


33,019.27

B = Amount earned:

B = P + I =


328 + 33,019.265753424658 =


33,347.265753424658 ≈


33,347.27

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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