Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 8,000 units (Dollar, Euro, Pound, etc.), from date: Jun 25, 2019, to date: Jul 25, 2019, namely for a period of 30 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0.03%.

Principal (initial amount), P = 8,000


Annual simple interest rate, R = 2%


From date: Jun 25, 2019


To date: Jul 25, 2019


Duration, T = 30 days


Commission fee (withdrawal or payment), F = 0.03%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(8,000 × 2% × 30) ÷ 365 =


(8,000 × 2 × 30) ÷ (365 × 100) =


480,000 ÷ 36,500 ≈


13.150684931507 ≈


13.15

B = Amount earned before deducting the
commission fee (withdrawal or payment):

B = P + I =


8,000 + 13.150684931507 =


8,013.150684931507 ≈


8,013.15

D = Amount earned after deducting the
commission fee (withdrawal or payment):

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 0.03%) × 8,013.150684931507 =


99.97% × 8,013.150684931507 ≈


8,010.746739726028 ≈


8,010.75

Pr = Investment profit:

Pr = D - P =


8,010.746739726028 - 8,000 =


10.746739726028 ≈


10.75

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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