Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 82,938.86 units (Dollar, Euro, Pound, etc.), from date: Sep 22, 2019, to date: Dec 31, 2019, namely for a period of 100 days (3 Months and 9 Days), with an annual simple flat interest rate of 8.18% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 82,938.86


Annual simple interest rate, R = 8.18%


From date: Sep 22, 2019


To date: Dec 31, 2019


Duration, T = 100 days (3 Months and 9 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(82,938.86 × 8.18% × 100) ÷ 365 =


(82,938.86 × 8.18 × 100) ÷ (365 × 100) =


67,843,987.48 ÷ 36,500 ≈


1,858.739383013699 ≈


1,858.74

B = Amount earned:

B = P + I =


82,938.86 + 1,858.739383013699 =


84,797.599383013699 ≈


84,797.6

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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