Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 600 units (Dollar, Euro, Pound, etc.), from date: Jul 7, 400, to date: Jun 7, 2017, namely for a period of 590,567 days (19,403 Months), with an annual simple flat interest rate of 23% if the commission fee (withdrawal or payment) is 1%.

Principal (initial amount), P = 600


Annual simple interest rate, R = 23%


From date: Jul 7, 400


To date: Jun 7, 2017


Duration, T = 590,567 days (19,403 Months)


Commission fee (withdrawal or payment), F = 1%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(600 × 23% × 590,567) ÷ 365 =


(600 × 23 × 590,567) ÷ (365 × 100) =


8,149,824,600 ÷ 36,500 ≈


223,282.865753424658 ≈


223,282.87

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

B = P + I =


600 + 223,282.865753424658 =


223,882.865753424658 ≈


223,882.87

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 1%) × 223,882.865753424658 =


99% × 223,882.865753424658 ≈


221,644.037095890411 ≈


221,644.04

Pr = Investment profit:

Pr = D - P =


221,644.037095890411 - 600 =


221,044.037095890411 ≈


221,044.04

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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