Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 570 units (Dollar, Euro, Pound, etc.), from date: Feb 11, 2018, to date: Mar 11, 2018, namely for a period of 28 days, with an annual simple flat interest rate of 0.03% if the commission fee (withdrawal or payment) is 68%.

Principal (initial amount), P = 570


Annual simple interest rate, R = 0.03%


From date: Feb 11, 2018


To date: Mar 11, 2018


Duration, T = 28 days


Commission fee (withdrawal or payment), F = 68%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(570 × 0.03% × 28) ÷ 365 =


(570 × 0.03 × 28) ÷ (365 × 100) =


478.8 ÷ 36,500 ≈


0.013117808219 ≈


0.01

B = Amount earned before deducting the
commission fee (withdrawal or payment):

B = P + I =


570 + 0.013117808219 =


570.013117808219 ≈


570.01

D = Amount earned after deducting the
commission fee (withdrawal or payment):

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 68%) × 570.013117808219 =


32% × 570.013117808219 =


182.40419769863 ≈


182.4

Pr = Investment profit:

Pr = D - P =


182.40419769863 - 570 =


- 387.59580230137 ≈


- 387.6

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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