Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 800 units (Dollar, Euro, Pound, etc.), from date: Jun 24, 2019, to date: Jun 24, 2022, namely for a period of 1,096 days (36 Months), with an annual simple flat interest rate of 4.5% if the commission fee (withdrawal or payment) is 0%.

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

Signs: % percent, ÷ divide, × multiply, ≈ approximately equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

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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