Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 900,000 units (Dollar, Euro, Pound, etc.), from date: Feb 6, 2019, to date: Feb 6, 2025, namely for a period of 2,192 days (72 Months), with an annual simple flat interest rate of 5% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 900,000


Annual simple interest rate, R = 5%


From date: Feb 6, 2019


To date: Feb 6, 2025


Duration, T = 2,192 days (72 Months)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(900,000 × 5% × 2,192) ÷ 365 =


(900,000 × 5 × 2,192) ÷ (365 × 100) =


9,864,000,000 ÷ 36,500 ≈


270,246.575342465753 ≈


270,246.58

B = Amount earned:

B = P + I =


900,000 + 270,246.575342465753 =


1,170,246.575342465753 ≈


1,170,246.58

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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