Principal (initial amount), P = 800
Annual simple interest rate, R = 4.5%
From date: Jun 24, 2019
To date: Jun 24, 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 =
(800 × 4.5% × 1,096) ÷ 365 =
(800 × 4.5 × 1,096) ÷ (365 × 100) =
3,945,600 ÷ 36,500 ≈
108.098630136986 ≈
108.1
B = Amount earned:
B = P + I =
800 + 108.098630136986 =
908.098630136986 ≈
908.1