Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 9,139.42 units (Dollar, Euro, Pound, etc.), from date: Feb 2, 2016, to date: Feb 21, 2018, namely for a period of 750 days (24 Months and 19 Days), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 9,139.42


Annual simple interest rate, R = 10%


From date: Feb 2, 2016


To date: Feb 21, 2018


Duration, T = 750 days (24 Months and 19 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(9,139.42 × 10% × 750) ÷ 365 =


(9,139.42 × 10 × 750) ÷ (365 × 100) =


68,545,650 ÷ 36,500 ≈


1,877.96301369863 ≈


1,877.96

B = Amount earned:

B = P + I =


9,139.42 + 1,877.96301369863 =


11,017.38301369863 ≈


11,017.38

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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