Calculator: calculate simple flat rate interest on a principal starting money amount lent, deposited or borrowed by the interest rate, duration and additional transaction fees (withdrawal, payment in advance)

Calculate simple flat rate interest on amount of money borrowed, lent

Latest calculated simple flat interest values

Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 10,000,000 units (Euro, Dollar, etc.), from date: Feb 19, 2017, to date: Mar 19, 2017, 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%.Feb 19 19:25 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 100 units (Euro, Dollar, etc.), from date: Feb 19, 2017, to date: Mar 19, 2017, namely for a period of 28 days, with an annual simple flat interest rate of 1% if the commission fee (withdrawal or payment) is 0.4%.Feb 19 09:36 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 500 units (Euro, Dollar, etc.), from date: Feb 18, 2017, to date: Jun 18, 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%.Feb 18 15:27 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 100 units (Euro, Dollar, etc.), from date: Feb 18, 2017, to date: Jun 18, 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%.Feb 18 15:26 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 100 units (Euro, Dollar, etc.), from date: Feb 17, 2017, to date: Mar 17, 2017, namely for a period of 28 days, with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%.Feb 17 16:47 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 100 units (Euro, Dollar, etc.), from date: Feb 17, 2017, to date: Mar 17, 2017, namely for a period of 28 days, with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%.Feb 16 23:33 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 12,000 units (Euro, Dollar, etc.), from date: Mar 01, 2017, to date: Mar 01, 2019, namely for a period of 730 days (24 Months), with an annual simple flat interest rate of 5.5% if the commission fee (withdrawal or payment) is 0%.Feb 16 14:27 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 1,000 units (Euro, Dollar, etc.), from date: Feb 16, 2017, to date: Feb 23, 2017, namely for a period of 7 days, with an annual simple flat interest rate of 25% if the commission fee (withdrawal or payment) is 0%.Feb 16 13:13 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 1,350,000 units (Euro, Dollar, etc.), from date: Feb 16, 2017, to date: Dec 16, 2017, namely for a period of 303 days (10 Months), with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 0%.Feb 16 12:15 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 5,826 units (Euro, Dollar, etc.), from date: Feb 15, 2016, to date: Mar 15, 2017, namely for a period of 394 days (13 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%.Feb 15 20:06 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 190 units (Euro, Dollar, etc.), from date: Feb 15, 2017, to date: Mar 12, 2017, namely for a period of 25 days, with an annual simple flat interest rate of 1% if the commission fee (withdrawal or payment) is 0%.Feb 15 09:31 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 19 units (Euro, Dollar, etc.), from date: Feb 15, 2017, to date: Mar 15, 2017, namely for a period of 28 days, with an annual simple flat interest rate of 1% if the commission fee (withdrawal or payment) is 0%.Feb 15 09:31 UTC (GMT)
Calculate interest earned by a principal (money initial amount lent, deposited or borrowed) of 20,000,000 units (Euro, Dollar, etc.), from date: Feb 15, 2017, to date: Mar 15, 2018, namely for a period of 393 days (13 Months), with an annual simple flat interest rate of 7.5% if the commission fee (withdrawal or payment) is 0%.Feb 14 23:19 UTC (GMT)


Simple flat rate interest.

Interest

  • When someone lends money to someone else, the borrower usually pays a fee to the lender. So the 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 lent or borrowed (called principal) and 3) the interest rate (the percentage of the principal charged as interest).
  • For example, for some bank deposits an interest rate of 3.5% on the principal is paid, 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) for which they are charging interest.

Annual interest rate

  • The annual interest rate, or the percentage of the principal charged as interest for one year, shows us that for an amount of 100 units (EUR Euro, USD Dollars), in a year, the interest is calculated as p% of the principal: I = p% * 100 units (EUR Euro, USD Dollars).
  • A deposit of S units generates a one year 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 interest formula:

  • I = S * p% * n

  • I = n years interest charged
  • S = initial amount (principal)
  • p% = annual 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 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 interest formula calculated for a period of n years:

  • Interest, I = S * p% * n
  • Principal, S = D / (p% * n)
  • Interest rate, p% = I / (S * n)
  • Number of years for the period, n = I / (S * p%)

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

  • Interest, I = (S * p% * d) / 365
  • Principal, S = (365 * I) / (p% * d)
  • 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 interest formula works

  • 1) Calculate the interest generated by a principal of S = 400 units in m = 5 months with an 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 interest generated by a principal of S = 400 units in m = 5 months with an 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.