Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 80.25 units (Dollar, Euro, Pound, etc.), from date: Dec 17, 2015, to date: Jul 3, 2017, namely for a period of 564 days (19 Months without 14 Days), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 80.25


Annual simple interest rate, R = 6%


From date: Dec 17, 2015


To date: Jul 3, 2017


Duration, T = 564 days (19 Months without 14 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(80.25 × 6% × 564) ÷ 365 =


(80.25 × 6 × 564) ÷ (365 × 100) =


271,566 ÷ 36,500 ≈


7.440164383562 ≈


7.44

B = Amount earned:

B = P + I =


80.25 + 7.440164383562 =


87.690164383562 ≈


87.69

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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