Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 50 units (Dollar, Euro, Pound, etc.), from date: Jul 11, 2017, to date: Sep 14, 2022, namely for a period of 1,891 days (62 Months and 3 Days), with an annual simple flat interest rate of 8% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 50


Annual simple interest rate, R = 8%


From date: Jul 11, 2017


To date: Sep 14, 2022


Duration, T = 1,891 days (62 Months and 3 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(50 × 8% × 1,891) ÷ 365 =


(50 × 8 × 1,891) ÷ (365 × 100) =


756,400 ÷ 36,500 ≈


20.723287671233 ≈


20.72

B = Amount earned:

B = P + I =


50 + 20.723287671233 =


70.723287671233 ≈


70.72

Signs: % percent, ÷ divide, × multiply, ≈ approximately equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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