Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 42,250 units (Dollar, Euro, Pound, etc.), from date: Aug 1, 2018, to date: Jul 1, 2030, namely for a period of 4,352 days (143 Months), with an annual simple flat interest rate of 22.4% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 42,250


Annual simple interest rate, R = 22.4%


From date: Aug 1, 2018


To date: Jul 1, 2030


Duration, T = 4,352 days (143 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(42,250 × 22.4% × 4,352) ÷ 365 =


(42,250 × 22.4 × 4,352) ÷ (365 × 100) =


4,118,732,800 ÷ 36,500 ≈


112,841.994520547945 ≈


112,841.99

B = Amount earned:

B = P + I =


42,250 + 112,841.994520547945 =


155,091.994520547945 ≈


155,091.99

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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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