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 1 units (Dollar, Euro, Pound, etc.), from date: May 25, 0384, to date: Mar 25, 2018, namely for a period of 596,745 days (19,606 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal) is 0%. Jan 17 22:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 394 units (Dollar, Euro, Pound, etc.), from date: Aug 05, 2018, to date: Sep 05, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal) is 0%. Jan 17 22:26 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Apr 13, 0626, to date: Apr 13, 0626, namely for a period of 0 days, with an annual simple flat interest rate of 20% if the commission fee (withdrawal) is 0%. Jan 17 22:24 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Jun 18, 0106, to date: May 18, 0342, namely for a period of 86,166 days (2,831 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Jan 17 22:23 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Jun 18, 0792, to date: May 18, 2017, namely for a period of 447,391 days (14,699 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Jan 17 22:23 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Mar 04, 0282, to date: May 04, 2021, namely for a period of 635,218 days (20,870 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal) is 0%. Jan 17 22:22 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,600 units (Dollar, Euro, Pound, etc.), from date: Jun 23, 2015, to date: Oct 23, 2018, namely for a period of 1,218 days (40 Months), with an annual simple flat interest rate of 0.002% if the commission fee (withdrawal) is 0%. Jan 17 22:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 28, 0552, to date: Jun 18, 2017, namely for a period of 535,101 days (17,581 Months without 10 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 496%. Jan 17 22:20 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Jun 15, 0694, to date: May 24, 2017, namely for a period of 483,194 days (15,875 Months and 9 Days), with an annual simple flat interest rate of - 3% if the commission fee (withdrawal) is 0%. Jan 17 22:20 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Jun 09, 0606, to date: Jul 09, 2025, namely for a period of 518,310 days (17,029 Months), with an annual simple flat interest rate of 2.75% if the commission fee (withdrawal) is 0%. Jan 17 22:19 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 12,165 units (Dollar, Euro, Pound, etc.), from date: Dec 07, 2017, to date: Jul 18, 2018, namely for a period of 223 days (7 Months and 11 Days), with an annual simple flat interest rate of 0.1% if the commission fee (withdrawal) is 608%. Jan 17 22:19 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Dec 30, 0316, to date: Jan 01, 2019, namely for a period of 621,645 days (20,425 Months without 29 Days), with an annual simple flat interest rate of 150% if the commission fee (withdrawal) is 904%. Jan 17 22:19 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: Oct 18, 0668, to date: Jun 25, 2017, namely for a period of 492,597 days (16,184 Months and 7 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Jan 17 22:17 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.