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 40,000 units (Dollar, Euro, Pound, etc.), from date: Nov 24, 2017, to date: Nov 24, 2018, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 37% if the commission fee (withdrawal) is 0%. Jun 20 00:50 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1 units (Dollar, Euro, Pound, etc.), from date: Feb 16, 2018, to date: Feb 28, 2020, namely for a period of 742 days (24 Months and 12 Days), with an annual simple flat interest rate of 15% if the commission fee (withdrawal) is 584%. Jun 20 00:50 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 7.08608 units (Dollar, Euro, Pound, etc.), from date: Oct 29, 2016, to date: Aug 05, 2017, namely for a period of 280 days (10 Months without 24 Days), with an annual simple flat interest rate of 0.2% if the commission fee (withdrawal) is 0%. Jun 20 00:50 UTC (GMT)
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, 0130, to date: Jun 25, 2018, namely for a period of 689,609 days (22,657 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal) is 0%. Jun 20 00:50 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1 units (Dollar, Euro, Pound, etc.), from date: Feb 24, 0744, to date: Mar 11, 2018, namely for a period of 465,335 days (15,289 Months without 13 Days), with an annual simple flat interest rate of 0.03% if the commission fee (withdrawal) is 0%. Jun 20 00:50 UTC (GMT)
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, 0130, to date: Jun 25, 2018, namely for a period of 689,609 days (22,657 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal) is 0%. Jun 20 00:50 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 24, 2017, to date: Jun 24, 2017, namely for a period of 31 days, with an annual simple flat interest rate of - 3% if the commission fee (withdrawal) is 720%. Jun 20 00:49 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: Jan 01, 0590, to date: Jun 30, 2019, namely for a period of 522,111 days (17,153 Months and 29 Days), with an annual simple flat interest rate of 7% if the commission fee (withdrawal) is 0%. Jun 20 00:49 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: Jan 01, 0590, to date: Jun 30, 2019, namely for a period of 522,111 days (17,153 Months and 29 Days), with an annual simple flat interest rate of 7% if the commission fee (withdrawal) is 0%. Jun 20 00:49 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 18, 0552, to date: Jan 18, 0002, namely for a period of 529,481 days (6,604 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Jun 20 00:49 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: Jan 18, 0308, to date: Jun 18, 0804, namely for a period of 181,313 days (5,957 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 878%. Jun 20 00:49 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: Jan 18, 0308, to date: Jun 18, 0804, namely for a period of 181,313 days (5,957 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 878%. Jun 20 00:49 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 02, 0180, to date: May 24, 2017, namely for a period of 670,941 days (22,043 Months and 22 Days), with an annual simple flat interest rate of - 3% if the commission fee (withdrawal) is 126%. Jun 20 00:49 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.