Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 590 units (Dollar, Euro, Pound, etc.), from date: May 23, 2019, to date: May 23, 2020, namely for a period of 366 days (12 Months), with an annual simple flat interest rate of 50% if the commission fee (withdrawal) is 158%.

Principal (initial amount), P = 590


Annual simple interest rate, R = 50%


From date: May 23, 2019


To date: May 23, 2020


Duration, T = 366 days (12 Months)


Commission fee (withdrawal), F = 158%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(590 × 50% × 366) ÷ 365 =


(590 × 50 × 366) ÷ (365 × 100) =


10,797,000 ÷ 36,500 ≈


295.808219178082 ≈


295.81

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

B = P + I =


590 + 295.808219178082 =


885.808219178082 ≈


885.81

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 158%) × 885.808219178082 =


- 58% × 885.808219178082 ≈


- 513.768767123288 ≈


- 513.77

Pr = Investment profit:

Pr = D - P =


- 513.768767123288 - 590 =


- 1,103.768767123288 ≈


- 1,103.77

Signs: % percent, ÷ divide, × multiply, = equal, ≈ approximately equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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