Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 48,700 units (Dollar, Euro, Pound, etc.), from date: Apr 20, 2019, to date: Apr 20, 2024, namely for a period of 1,827 days (60 Months), with an annual simple flat interest rate of 4.9% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 48,700


Annual simple interest rate, R = 4.9%


From date: Apr 20, 2019


To date: Apr 20, 2024


Duration, T = 1,827 days (60 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(48,700 × 4.9% × 1,827) ÷ 365 =


(48,700 × 4.9 × 1,827) ÷ (365 × 100) =


435,977,010 ÷ 36,500 ≈


11,944.575616438356 ≈


11,944.58

B = Amount earned:

B = P + I =


48,700 + 11,944.575616438356 =


60,644.575616438356 ≈


60,644.58

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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