Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,000 units (Dollar, Euro, Pound, etc.), from date: Jan 28, 2019, to date: Feb 28, 2019, namely for a period of 31 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 2%.

Principal (initial amount), P = 4,000

Annual simple interest rate, R = 2%

From date: Jan 28, 2019

To date: Feb 28, 2019

Duration, T = 31 days

Commission fee (withdrawal or payment), F = 2%

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 before deducting the
commission fee (withdrawal or payment):

B = P + I =

4,000 + 6.794520547945 =

4,006.794520547945 ≈

4,006.79

D = Amount earned after deducting the
commission fee (withdrawal or payment):

D = B - F =

B - F% × B =

(1 - F%) × B =

(1 - 2%) × 4,006.794520547945 =

98% × 4,006.794520547945 ≈

3,926.658630136986 ≈

3,926.66

Pr = Investment profit:

Pr = D - P =

3,926.658630136986 - 4,000 =

- 73.341369863014 ≈

- 73.34

Signs: % percent, ÷ divide, × multiply, = equal, ≈ approximately equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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