Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 81,156 units (Dollar, Euro, Pound, etc.), from date: Sep 18, 2018, to date: Sep 18, 2023, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 8.9% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 81,156


Annual simple interest rate, R = 8.9%


From date: Sep 18, 2018


To date: Sep 18, 2023


Duration, T = 1,826 days (60 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(81,156 × 8.9% × 1,826) ÷ 365 =


(81,156 × 8.9 × 1,826) ÷ (365 × 100) =


1,318,898,618.4 ÷ 36,500 ≈


36,134.208723287671 ≈


36,134.21

B = Amount earned:

B = P + I =


81,156 + 36,134.208723287671 =


117,290.208723287671 ≈


117,290.21

Signs: % percent, ÷ divide, × multiply, = equal, ≈ 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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