#### Principal (initial amount), P = 500,000

#### Annual simple interest rate, R = 2%

#### From date: Dec 7, 2017

#### To date: Jan 7, 2020

#### Duration, T = 761 days (25 Months)

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

#### No. of days in a year, N = 365

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (500,000 × 2% × 761) ÷ 365 =

#### (500,000 × 2 × 761) ÷ (365 × 100) =

#### 761,000,000 ÷ 36,500 ≈

#### 20,849.315068493151 ≈

#### 20,849.32

## B = Amount earned:

#### B = P + I =

#### 500,000 + 20,849.315068493151 =

#### 520,849.315068493151 ≈

#### 520,849.32