#### Principal (initial amount), P = 4,000

#### Annual simple interest rate, R = 2%

#### From date: Aug 13, 2017

#### To date: Sep 13, 2017

#### Duration, T = 31 days

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

#### No. of days in a year, N = 365

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (4,000 × 2% × 31) ÷ 365 =

#### (4,000 × 2 × 31) ÷ (365 × 100) =

#### 248,000 ÷ 36,500 ≈

#### 6.794520547945 ≈

#### 6.79

## B = Amount earned:

#### B = P + I =

#### 4,000 + 6.794520547945 =

#### 4,006.794520547945 ≈

#### 4,006.79