Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 50,232 units (Dollar, Euro, Pound, etc.), from date: Jul 10, 2017, to date: Feb 18, 2019, namely for a period of 588 days (19 Months and 8 Days), with an annual simple flat interest rate of 0.25% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 50,232


Annual simple interest rate, R = 0.25%


From date: Jul 10, 2017


To date: Feb 18, 2019


Duration, T = 588 days (19 Months and 8 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(50,232 × 0.25% × 588) ÷ 365 =


(50,232 × 0.25 × 588) ÷ (365 × 100) =


7,384,104 ÷ 36,500 ≈


202.304219178082 ≈


202.3

B = Amount earned:

B = P + I =


50,232 + 202.304219178082 =


50,434.304219178082 ≈


50,434.3

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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