Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 928 units (Dollar, Euro, Pound, etc.), from date: Aug 21, 2007, to date: Aug 17, 2018, namely for a period of 4,014 days (132 Months without 4 Days), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%.

Principal (initial amount), P = 928


Annual simple interest rate, R = 0.02%


From date: Aug 21, 2007


To date: Aug 17, 2018


Duration, T = 4,014 days (132 Months without 4 Days)


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


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(928 × 0.02% × 4,014) ÷ 365 =


(928 × 0.02 × 4,014) ÷ (365 × 100) =


74,499.84 ÷ 36,500 ≈


2.041091506849 ≈


2.04

B = Amount earned:

B = P + I =


928 + 2.041091506849 =


930.041091506849 ≈


930.04

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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