Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,200 units (Dollar, Euro, Pound, etc.), from date: Jun 6, 2018, to date: Dec 6, 2018, namely for a period of 183 days (6 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 4,200


Annual simple interest rate, R = 3%


From date: Jun 6, 2018


To date: Dec 6, 2018


Duration, T = 183 days (6 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(4,200 × 3% × 183) ÷ 365 =


(4,200 × 3 × 183) ÷ (365 × 100) =


2,305,800 ÷ 36,500 =


63.172602739726 ≈


63.17

B = Amount earned:

B = P + I =


4,200 + 63.172602739726 =


4,263.172602739726 ≈


4,263.17

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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