Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 50,000 units (Dollar, Euro, Pound, etc.), from date: Mar 14, 2011, to date: Jun 30, 2011, namely for a period of 108 days (3 Months and 16 Days), with an annual simple flat interest rate of 14% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 50,000


Annual simple interest rate, R = 14%


From date: Mar 14, 2011


To date: Jun 30, 2011


Duration, T = 108 days (3 Months and 16 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(50,000 × 14% × 108) ÷ 365 =


(50,000 × 14 × 108) ÷ (365 × 100) =


75,600,000 ÷ 36,500 ≈


2,071.232876712329 ≈


2,071.23

B = Amount earned:

B = P + I =


50,000 + 2,071.232876712329 =


52,071.232876712329 ≈


52,071.23

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