Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 5,000 units (Dollar, Euro, Pound, etc.), from date: Jan 19, 2018, to date: Apr 19, 2018, namely for a period of 90 days (3 Months), with an annual simple flat interest rate of 0.75% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 5,000


Annual simple interest rate, R = 0.75%


From date: Jan 19, 2018


To date: Apr 19, 2018


Duration, T = 90 days (3 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(5,000 × 0.75% × 90) ÷ 365 =


(5,000 × 0.75 × 90) ÷ (365 × 100) =


337,500 ÷ 36,500 ≈


9.246575342466 ≈


9.25

B = Amount earned:

B = P + I =


5,000 + 9.246575342466 =


5,009.246575342466 ≈


5,009.25

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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