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: Jul 16, 322, to date: Jun 16, 2017, namely for a period of 619,057 days (20,339 Months), with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 5,000


Annual simple interest rate, R = 12%


From date: Jul 16, 322


To date: Jun 16, 2017


Duration, T = 619,057 days (20,339 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 × 12% × 619,057) ÷ 365 =


(5,000 × 12 × 619,057) ÷ (365 × 100) =


37,143,420,000 ÷ 36,500 =


1,017,627.945205479452 ≈


1,017,627.95

B = Amount earned:

B = P + I =


5,000 + 1,017,627.945205479452 =


1,022,627.945205479452 ≈


1,022,627.95

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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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