Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 60,200 units (Dollar, Euro, Pound, etc.), from date: Jan 13, 2019, to date: Jan 13, 2022, namely for a period of 1,096 days (36 Months), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 60,200


Annual simple interest rate, R = 6%


From date: Jan 13, 2019


To date: Jan 13, 2022


Duration, T = 1,096 days (36 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(60,200 × 6% × 1,096) ÷ 365 =


(60,200 × 6 × 1,096) ÷ (365 × 100) =


395,875,200 ÷ 36,500 ≈


10,845.895890410959 ≈


10,845.9

B = Amount earned:

B = P + I =


60,200 + 10,845.895890410959 =


71,045.895890410959 ≈


71,045.9

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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