Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 5,732 units (Dollar, Euro, Pound, etc.), from date: Apr 21, 2013, to date: Jun 21, 2018, namely for a period of 1,887 days (62 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 5,732


Annual simple interest rate, R = 0.02%


From date: Apr 21, 2013


To date: Jun 21, 2018


Duration, T = 1,887 days (62 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(5,732 × 0.02% × 1,887) ÷ 365 =


(5,732 × 0.02 × 1,887) ÷ (365 × 100) =


216,325.68 ÷ 36,500 ≈


5.926730958904 ≈


5.93

B = Amount earned:

B = P + I =


5,732 + 5.926730958904 =


5,737.926730958904 ≈


5,737.93

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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