Online calculator: calculate the due simple flat rate interest

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

Latest calculated simple flat rate interest values

Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 5,000 units (Dollar, Euro, Pound, etc.), from date: Nov 15, 2017, to date: Dec 15, 2017, namely for a period of 30 days, with an annual simple flat interest rate of 4% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:23 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 50,000 units (Dollar, Euro, Pound, etc.), from date: Jan 26, 2018, to date: Jul 26, 2018, namely for a period of 181 days (6 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:23 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 3,700 units (Dollar, Euro, Pound, etc.), from date: Jan 15, 2018, to date: Feb 15, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 1% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:23 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 134,133 units (Dollar, Euro, Pound, etc.), from date: Dec 17, 2017, to date: Jan 17, 2038, namely for a period of 7,336 days (241 Months), with an annual simple flat interest rate of 5.7% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,000 units (Dollar, Euro, Pound, etc.), from date: Oct 12, 2000, to date: Nov 12, 2018, namely for a period of 6,605 days (217 Months), with an annual simple flat interest rate of 30% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,227 units (Dollar, Euro, Pound, etc.), from date: Oct 23, 2008, to date: Oct 23, 2018, namely for a period of 3,652 days (120 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:19 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 10,000 units (Dollar, Euro, Pound, etc.), from date: Jun 18, 2017, to date: Jul 18, 2017, namely for a period of 30 days, with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:17 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,200 units (Dollar, Euro, Pound, etc.), from date: May 15, 2009, to date: May 15, 2018, namely for a period of 3,287 days (108 Months), with an annual simple flat interest rate of 18.55% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:17 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,000 units (Dollar, Euro, Pound, etc.), from date: Feb 15, 2018, to date: Mar 15, 2018, namely for a period of 28 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:17 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,600 units (Dollar, Euro, Pound, etc.), from date: Nov 15, 2013, to date: Dec 30, 2016, namely for a period of 1,141 days (37 Months and 15 Days), with an annual simple flat interest rate of 8% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:17 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100,000,000,000 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2017, to date: May 01, 2017, namely for a period of 120 days (4 Months), with an annual simple flat interest rate of 1.3% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:16 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 8,656.95 units (Dollar, Euro, Pound, etc.), from date: Aug 12, 2010, to date: Sep 12, 2010, namely for a period of 31 days, with an annual simple flat interest rate of 8.95% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:16 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,200 units (Dollar, Euro, Pound, etc.), from date: Sep 19, 2010, to date: Oct 02, 2017, namely for a period of 2,570 days (85 Months without 17 Days), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Nov 12 20:16 UTC (GMT)
All users calculated simple flat rate interest values


Simple flat rate interest.

Interest

  • When someone lends money to someone else, the borrower usually pays a fee to the lender. So the due interest is a sum paid or charged for the use of money or for borrowing money. The interest depends on: 1) the period of the loan 2) the amount of money lent or borrowed (called principal) and 3) the interest rate (the percentage of the principal charged as interest).
  • For example, for some bank deposits is not uncommon to pay an interest rate of 3.5% on the principal, annualy. Banks are also using these temporarily owned amounts of money by introducing them back into the cash flow circuit or are granting loans (for investments, for example) on which they are again charging interest.

Annual simple flat interest rate

  • The simple annual interest rate, or the percentage of the principal charged as interest for a period of one year, shows us that for an amount of 100 units (ex: Dollar, Euro, Yen, Pound, Franc), in a year, the interest is calculated as a percentage p% of the principal: I = p% × 100 units.
  • A deposit of S units generates a one year simple interest of: I = S × p% units, and in n years, the same deposit of S units generates an interest of: I = S × p% × n units.

Annual simple flat rate interest formula:

  • I = S × p% × n

  • I = n years simple flat rate interest charged
  • S = initial amount (principal)
  • p% = annual simple flat interest rate (percentage of the principal charged as interest)
  • n = number of years of the lending or borrowing the money

Examples of how the simple flat rate interest formula works:

  • 1) What interest, I, generates in n = 5 years a principal of S = 20,000 units if the annual simple flat interest rate is p% = 3.5%?
    Answer:
    I = S × p% × n = 20,000 × 3.5% × 5 = 20,000 × 3.5 ÷ 100 × 5 = 1,000 × 3.5 = 3,500 units
  • 2) What is the simple flat interest rate, p%, if a principal of S = 12,000 units is charged a n = 6 years interest of I = 2,880 units?
    Answer:
    I = S × p% × n =>
    p% = I ÷ (S × n) = 2,880 ÷ (12,000 × 6) = 0.04 = 4%.

Annual simple flat rate interest formula calculated for a period of n years:

  • Interest, I = S × p% × n
  • Principal, S = I ÷ (p% × n)
  • Interest rate, p% = I ÷ (S × n)
  • Number of years (period): n = I ÷ (S × p%)

Annual simple flat rate interest formula calculated for a period of m months:

  • Interest, I = (S × p% × m) ÷ 12
  • Principal, S = (12 × I) ÷ (p% × m)
  • Interest rate, p% = (12 × I) ÷ (S × m)
  • Number of months of the period, m = (12 × I) ÷ (S × p%)

Annual simple flat rate interest formula calculated for a period of d days:

  • Interest, I = (S × p% × d) ÷ 365
  • Principal, S = (365 × I) ÷ (p% × d)
  • Simple flat interest rate, p% = (365 × I) ÷ (S × d)
  • Number of days of the period, d = (365 × I) ÷ (S × p%)

More examples of how the simple flat rate interest formula works:

  • 1) Calculate the due interest on a principal of S = 400 units in m = 5 months, with a simple flat interest rate of p% = 4%.
    Answer:
    I = (S × p% × m) ÷ 12 = (400 × 4% × 5) ÷ 12 = (400 × 4 ÷ 100 × 5) ÷ 12 = 16 × 5 ÷ 12 = 20 ÷ 3 = 6.67 units
  • 2) Calculate the due interest generated by a principal of S = 400 units in m = 5 months if the simple flat interest rate of p% = 4.5%.
    Answer:
    I = (S × p% × m) ÷ 12 = (400 × 4.5% × 5) ÷ 12 = (400 × 4.5 ÷ 100 × 5) ÷ 12 = 18 × 5 ÷ 12 = 15 ÷ 2 = 7.5 units.