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: May 17, 2018, to date: May 17, 2020, namely for a period of 731 days (24 Months), with an annual simple flat interest rate of 41% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 5,000


Annual simple interest rate, R = 41%


From date: May 17, 2018


To date: May 17, 2020


Duration, T = 731 days (24 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 × 41% × 731) ÷ 365 =


(5,000 × 41 × 731) ÷ (365 × 100) =


149,855,000 ÷ 36,500 ≈


4,105.616438356164 ≈


4,105.62

B = Amount earned:

B = P + I =


5,000 + 4,105.616438356164 =


9,105.616438356164 ≈


9,105.62

Signs: % percent, ÷ divide, × multiply, = equal, ≈ 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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