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

#### Annual simple interest rate, R = 6.9%

#### From date: Dec 20, 2018

#### To date: Jan 20, 2023

#### Duration, T = 1,492 days (49 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 × 6.9% × 1,492) ÷ 365 =

#### (70,000 × 6.9 × 1,492) ÷ (365 × 100) =

#### 720,636,000 ÷ 36,500 ≈

#### 19,743.452054794521 ≈

#### 19,743.45

## B = Amount earned:

#### B = P + I =

#### 70,000 + 19,743.452054794521 =

#### 89,743.452054794521 ≈

#### 89,743.45