Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 90,000 units (Dollar, Euro, Pound, etc.), from date: Mar 1, 2017, to date: Mar 1, 2022, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 7% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 90,000


Annual simple interest rate, R = 7%


From date: Mar 1, 2017


To date: Mar 1, 2022


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 =


(90,000 × 7% × 1,826) ÷ 365 =


(90,000 × 7 × 1,826) ÷ (365 × 100) =


1,150,380,000 ÷ 36,500 ≈


31,517.260273972603 ≈


31,517.26

B = Amount earned:

B = P + I =


90,000 + 31,517.260273972603 =


121,517.260273972603 ≈


121,517.26

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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