Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,800 units (Dollar, Euro, Pound, etc.), from date: Jun 16, 2017, to date: Nov 16, 2017, namely for a period of 153 days (5 Months), with an annual simple flat interest rate of 384% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 4,800


Annual simple interest rate, R = 384%


From date: Jun 16, 2017


To date: Nov 16, 2017


Duration, T = 153 days (5 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(4,800 × 384% × 153) ÷ 365 =


(4,800 × 384 × 153) ÷ (365 × 100) =


282,009,600 ÷ 36,500 ≈


7,726.290410958904 ≈


7,726.29

B = Amount earned:

B = P + I =


4,800 + 7,726.290410958904 =


12,526.290410958904 ≈


12,526.29

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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