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 540 units (Dollar, Euro, Pound, etc.), from date: Apr 16, 2009, to date: May 16, 2018, namely for a period of 3,317 days (109 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,500 units (Dollar, Euro, Pound, etc.), from date: Sep 26, 2019, to date: Dec 26, 2019, namely for a period of 91 days (3 Months), with an annual simple flat interest rate of 0.3% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,250 units (Dollar, Euro, Pound, etc.), from date: Nov 22, 2014, to date: Jan 01, 2019, namely for a period of 1,501 days (50 Months without 21 Days), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 7,090.54 units (Dollar, Euro, Pound, etc.), from date: Jun 16, 2014, to date: Jun 13, 2017, namely for a period of 1,093 days (36 Months without 3 Days), with an annual simple flat interest rate of 0.25% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 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: Feb 06, 2018, to date: May 07, 2018, namely for a period of 90 days (3 Months and 1 Day), with an annual simple flat interest rate of 2.25% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 17,159.12 units (Dollar, Euro, Pound, etc.), from date: Apr 15, 2018, to date: May 14, 2019, namely for a period of 394 days (13 Months without 1 Days), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,963 units (Dollar, Euro, Pound, etc.), from date: Jun 06, 0878, to date: Oct 06, 2019, namely for a period of 416,863 days (13,696 Months), with an annual simple flat interest rate of 25% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 130 units (Dollar, Euro, Pound, etc.), from date: Aug 01, 2016, to date: Dec 30, 2016, namely for a period of 151 days (4 Months and 29 Days), with an annual simple flat interest rate of 14.56% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 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: Jul 08, 0846, to date: Jun 08, 2017, namely for a period of 427,669 days (14,051 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 150 units (Dollar, Euro, Pound, etc.), from date: May 08, 0776, to date: May 08, 2017, namely for a period of 453,266 days (14,892 Months), with an annual simple flat interest rate of 4% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:21 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: Apr 13, 0512, to date: May 13, 2018, namely for a period of 550,085 days (18,073 Months), with an annual simple flat interest rate of 20% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:20 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 40,000 units (Dollar, Euro, Pound, etc.), from date: May 07, 2018, to date: May 07, 2023, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 8% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:20 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 5,200 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 0916, to date: Jul 25, 2017, namely for a period of 402,338 days (13,218 Months and 24 Days), with an annual simple flat interest rate of 1,850% if the commission fee (withdrawal or payment) is 0%. Nov 22 10:20 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.