Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 6,100 units (Dollar, Euro, Pound, etc.), from date: May 9, 2011, to date: Jun 11, 2019, namely for a period of 2,955 days (97 Months and 2 Days), with an annual simple flat interest rate of 0.2% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 6,100


Annual simple interest rate, R = 0.2%


From date: May 9, 2011


To date: Jun 11, 2019


Duration, T = 2,955 days (97 Months and 2 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(6,100 × 0.2% × 2,955) ÷ 365 =


(6,100 × 0.2 × 2,955) ÷ (365 × 100) =


3,605,100 ÷ 36,500 ≈


98.769863013699 ≈


98.77

B = Amount earned:

B = P + I =


6,100 + 98.769863013699 =


6,198.769863013699 ≈


6,198.77

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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