Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 500 units (Dollar, Euro, Pound, etc.), from date: Sep 28, 2006, to date: Jul 28, 2017, namely for a period of 3,956 days (130 Months), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 500


Annual simple interest rate, R = 6%


From date: Sep 28, 2006


To date: Jul 28, 2017


Duration, T = 3,956 days (130 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(500 × 6% × 3,956) ÷ 365 =


(500 × 6 × 3,956) ÷ (365 × 100) =


11,868,000 ÷ 36,500 ≈


325.150684931507 ≈


325.15

B = Amount earned:

B = P + I =


500 + 325.150684931507 =


825.150684931507 ≈


825.15

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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