Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 40,000 units (Dollar, Euro, Pound, etc.), from date: May 9, 2017, to date: Jun 9, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 6.12% if the commission fee (withdrawal or payment) is 262%.

Principal (initial amount), P = 40,000


Annual simple interest rate, R = 6.12%


From date: May 9, 2017


To date: Jun 9, 2017


Duration, T = 31 days


Commission fee (withdrawal or payment), F = 262%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(40,000 × 6.12% × 31) ÷ 365 =


(40,000 × 6.12 × 31) ÷ (365 × 100) =


7,588,800 ÷ 36,500 ≈


207.912328767123 ≈


207.91

B = Amount earned before deducting the
commission fee (withdrawal or payment):

B = P + I =


40,000 + 207.912328767123 =


40,207.912328767123 ≈


40,207.91

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 262%) × 40,207.912328767123 =


- 162% × 40,207.912328767123 ≈


- 65,136.817972602739 ≈


- 65,136.82

Pr = Investment profit:

Pr = D - P =


- 65,136.817972602739 - 40,000 =


- 105,136.817972602739 ≈


- 105,136.82

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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