Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 866 units (Dollar, Euro, Pound, etc.), from date: Mar 25, 2017, to date: Apr 25, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 3%.

Principal (initial amount), P = 866


Annual simple interest rate, R = 3%


From date: Mar 25, 2017


To date: Apr 25, 2017


Duration, T = 31 days


Commission fee (withdrawal or payment), F = 3%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(866 × 3% × 31) ÷ 365 =


(866 × 3 × 31) ÷ (365 × 100) =


80,538 ÷ 36,500 ≈


2.206520547945 ≈


2.21

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

B = P + I =


866 + 2.206520547945 =


868.206520547945 ≈


868.21

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

D = B - F =


B - F% × B =


(1 - F%) × B =


(1 - 3%) × 868.206520547945 =


97% × 868.206520547945 ≈


842.160324931507 ≈


842.16

Pr = Investment profit:

Pr = D - P =


842.160324931507 - 866 =


- 23.839675068493 ≈


- 23.84

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