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 190,600 units (Dollar, Euro, Pound, etc.), from date: May 01, 2018, to date: May 01, 2019, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100,000 units (Dollar, Euro, Pound, etc.), from date: Apr 07, 0944, to date: Jun 22, 2019, namely for a period of 392,711 days (12,902 Months and 15 Days), with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 7,235 units (Dollar, Euro, Pound, etc.), from date: May 08, 0534, to date: May 08, 2018, namely for a period of 542,020 days (17,808 Months), with an annual simple flat interest rate of 4% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 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: Jun 07, 2019, to date: Jul 07, 2024, namely for a period of 1,857 days (61 Months), with an annual simple flat interest rate of 910% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 30,000 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 0326, to date: May 01, 2016, namely for a period of 617,381 days (20,284 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 10 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 0726, to date: Dec 28, 2017, namely for a period of 471,890 days (15,503 Months and 27 Days), with an annual simple flat interest rate of 60% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Jun 25, 0286, to date: May 25, 2018, namely for a period of 632,569 days (20,783 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:07 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: Feb 12, 0006, to date: Feb 12, 2020, namely for a period of 735,598 days (24,168 Months), with an annual simple flat interest rate of 4.5% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:06 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,212 units (Dollar, Euro, Pound, etc.), from date: May 25, 2018, to date: Jun 25, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:06 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 997 units (Dollar, Euro, Pound, etc.), from date: Jan 30, 2007, to date: Feb 28, 2018, namely for a period of 4,047 days (133 Months without 2 Days), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:06 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 204 units (Dollar, Euro, Pound, etc.), from date: Nov 01, 2018, to date: Dec 20, 2018, namely for a period of 49 days (1 Month and 19 Days), with an annual simple flat interest rate of 0.3% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:06 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,200 units (Dollar, Euro, Pound, etc.), from date: Mar 06, 0876, to date: Mar 06, 2021, namely for a period of 418,202 days (13,740 Months), with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:06 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 120,000 units (Dollar, Euro, Pound, etc.), from date: Jun 01, 0506, to date: Oct 03, 2017, namely for a period of 552,006 days (18,136 Months and 2 Days), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%. Aug 15 20:05 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.