#### Principal (initial amount), P = 70,000

#### Annual simple interest rate, R = 5%

#### From date: Feb 10, 2019

#### To date: Mar 10, 2024

#### Duration, T = 1,855 days (61 Months)

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

#### No. of days in a year, N = 365

## I = Simple interest:

#### I = (P × R × T) ÷ N =

#### (70,000 × 5% × 1,855) ÷ 365 =

#### (70,000 × 5 × 1,855) ÷ (365 × 100) =

#### 649,250,000 ÷ 36,500 ≈

#### 17,787.671232876712 ≈

#### 17,787.67

## B = Amount earned:

#### B = P + I =

#### 70,000 + 17,787.671232876712 =

#### 87,787.671232876712 ≈

#### 87,787.67