Simple (Flat Rate) Interest Calculator: Calculate the Principal (Initial Starting Amount of Money) To Be Lent, Deposited or Borrowed With a Simple (Flat) Interest Rate in Order To Produce a Sum of Money of 210 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 202 Days (6 Months and 21 Days). Annual Simple (Flat) Interest Rate: 2%. Transaction Fee: 0.3%

Detailed calculations of the principal

Notations and variables used:

Principal (initial amount), P


Due interest, I = 210


Annual simple interest rate, R = 2%


From date: Sep 10, 2016

To date: Mar 31, 2017

Duration, T = 202 days (6 Months and 21 Days)


Transaction fee rate, F% = 0.3%

Transaction fee amount, F


Number of days in a year, N = 365

Calculate P, the principal (the initial amount of money to be lent, deposited or borrowed) to earn the simple (flat rate) interest

The simple (flat rate) interest calculation formula:

I = (P × R × T) ÷ N ⇒


P = (N × I) ÷ (R × T) =


(365 × 210) ÷ (2% × 202) =


(100 × 365 × 210) ÷ (2 × 202) =


7,665,000 ÷ 404 ≈



18,972.772277227723 ≈


18,972.77

Calculate E, the amount earned after adding the simple (flat rate) interest amount to the principal

E = P + I =


18,972.772277227723 + 210 =


19,182.772277227723 ≈


19,182.77


Calculate L, the amount left after deducting the transaction fee

F = F% × E ⇒

L = E - F =


E - F% × E =


(1 - F%) × E =


(1 - 0.3%) × 19,182.772277227723 =


99.7% × 19,182.772277227723 ≈



19,125.22396039604 ≈


19,125.22

Calculate Pr, the profit of the investment

Pr = L - P =


19,125.22396039604 - 18,972.772277227723 =


152.451683168317 ≈


152.45

Calculate principal amount to invest to get a certain simple flat rate interest

Principal = (Number of days in a year × Simple flat rate interest) ÷ (Annual simple flat interest rate × Duration in days)

The latest initial amounts of money calculated for earning certain simple flat rate interest amounts

Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 210 units (Dollar, Euro, Pound, etc.) for a period of 202 days (6 Months and 21 Days), if the annual simple (flat rate) interest is 2% and the transaction fee is 0.3%. Mar 29 05:29 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 200 units (Dollar, Euro, Pound, etc.) for a period of 153 days (5 Months), if the annual simple (flat rate) interest is 2%. Mar 29 04:54 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 221,960 units (Dollar, Euro, Pound, etc.) for a period of 1,826 days (60 Months), if the annual simple (flat rate) interest is 12.5%. Mar 29 04:52 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 500 units (Dollar, Euro, Pound, etc.) for a period of 447 days (15 Months without 10 Days), if the annual simple (flat rate) interest is 0.8% and the transaction fee is 0.8%. Mar 29 03:17 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 247,817 units (Dollar, Euro, Pound, etc.) for a period of 682,638 days (22,428 Months), if the annual simple (flat rate) interest is 12%. Mar 29 02:48 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 450 units (Dollar, Euro, Pound, etc.) for a period of 31 days, if the annual simple (flat rate) interest is 7%. Mar 29 00:14 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 15,581 units (Dollar, Euro, Pound, etc.) for a period of 3,287 days (107 Months and 30 Days), if the annual simple (flat rate) interest is 2%. Mar 29 00:04 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 560 units (Dollar, Euro, Pound, etc.) for a period of 462 days (15 Months and 5 Days), if the annual simple (flat rate) interest is 1% and the transaction fee is 0.5%. Mar 28 23:10 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 560 units (Dollar, Euro, Pound, etc.) for a period of 462 days (15 Months and 5 Days), if the annual simple (flat rate) interest is 1% and the transaction fee is 0.5%. Mar 28 23:10 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 1,040 units (Dollar, Euro, Pound, etc.) for a period of 30 days, if the annual simple (flat rate) interest is 3%. Mar 28 21:22 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 1,338 units (Dollar, Euro, Pound, etc.) for a period of 30 days, if the annual simple (flat rate) interest is 182.5%. Mar 28 13:22 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 93,060 units (Dollar, Euro, Pound, etc.) for a period of 365 days (12 Months), if the annual simple (flat rate) interest is 12%. Mar 28 12:50 UTC (GMT)
Calculate the principal, initial money amount to be lent, deposited or borrowed in order to earn a simple (flat rate) interest of 32,700,000 units (Dollar, Euro, Pound, etc.) for a period of 123 days (4 Months), if the annual simple (flat rate) interest is 165,235,180%. Mar 28 12:50 UTC (GMT)
All the initial amounts of money calculated by users for earning certain simple flat rate interest amounts


How to calculate the principal - initial amount of money lent, deposited or borrowed in order to collect or pay a simple flat rate due interest by the interest rate, duration and additional fees (transaction fee as withdrawal, payment in advance, etc.).

Annual simple flat rate interest calculation formula:

  • I = S × p% × n

  • I = n years simple 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
  • Formula for the principal - initial amount of money lent, deposited or borrowed in order to produce a simple flat annual rate:

  • S = I ÷ (p% × n)

Examples of how to calculate the initial amount, the principal, to earn a certain simple flat rate interest:

  • 1) What is the principal that has to be lent, deposited or borrowed for a period of n = 5 years if the simple flat rate interest collected or paid D = 3,500 units, for an annual simple flat interest rate (percentage) p% = 3.5%?
    Answer:
    S = I ÷ (p% × n) = 3,500 ÷ (3.5% × 5) = 3,500 ÷ (3.5/100 × 5) = (3,500 × 100) ÷ (3.5 × 5) = 350,000 ÷ 17.5 = 20,000 units
  • 2) What is the principal that has to be lent, deposited or borrowed for a period of n = 3 years if the simple flat rate interest collected or paid D = 300 units, for an annual simple flat interest rate p% = 2%?
    Answer:
    S = I ÷ (p% × n) = 300 ÷ (2% × 3) = 300 ÷ (2/100 × 3) = (300 × 100) ÷ (2 × 3) = 30,000 ÷ 6 = 5,000 units

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

  • Principal, S = I ÷ (p% × n)
  • Simple interest, I = S × p% × n
  • Simple flat interest rate, p% = I ÷ (S × n)
  • Number of years for the period of the deposit, lending or borrowing, n = I ÷ (S × p%)

The principal formula for earning an annual simple flat rate interest calculated for a period of m months:

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

The principal formula for earning an annual simple flat rate interest calculated for a period of d days:

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

More examples of how to calculate the principal for earning a simple flat rate interest:

  • 1) Calculate the initial amount S that would generate a simple flat rate interest I = 6.67 units in m = 5 months with a simple interest rate of p% = 4%.
    Answer:
    S = (12 × I) ÷ (p% × m) = (12 × 6.67) ÷ (4% × 5) = (12 × 6.67) ÷ (4/100 × 5) = (100 × 12 × 6.67) ÷ (4 × 5) = (100 × 12 × 6.67) ÷ 20 = 5 × 12 × 6.67 = 400.2 ≈ 400 units
  • 2) Calculate the initial amount that would earn a simple flat rate interest I = 7.5 units in m = 5 months with a simple flat interest rate of p% = 4.5%.
    Answer:
    S = (12 × I) ÷ (p% × m) = (12 × 7.5) ÷ (4.5% × 5) = (100 × 12 × 7.5) ÷ (4.5 × 5) = (100 × 12 × 7.5) ÷ 22.5 = 9,000 ÷ 22.5 = 400 units.