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 20,000 units (Dollar, Euro, Pound, etc.), from date: Feb 28, 2019, to date: Mar 28, 2029, namely for a period of 3,681 days (121 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:33 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 200 units (Dollar, Euro, Pound, etc.), from date: Jan 11, 0698, to date: Mar 11, 2017, namely for a period of 481,814 days (15,830 Months), with an annual simple flat interest rate of 5% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:33 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: May 13, 2018, to date: Jul 16, 2018, namely for a period of 64 days (2 Months and 3 Days), with an annual simple flat interest rate of 21.58% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:33 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,998 units (Dollar, Euro, Pound, etc.), from date: Aug 01, 2014, to date: Sep 30, 2018, namely for a period of 1,521 days (49 Months and 29 Days), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 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: Feb 05, 0448, to date: Dec 05, 2018, namely for a period of 573,734 days (18,850 Months), with an annual simple flat interest rate of 1% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 5,600 units (Dollar, Euro, Pound, etc.), from date: Feb 25, 2019, to date: Mar 25, 2024, namely for a period of 1,855 days (61 Months), with an annual simple flat interest rate of 40% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 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: Apr 25, 2019, to date: May 25, 2019, namely for a period of 30 days, with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,000 units (Dollar, Euro, Pound, etc.), from date: Jun 20, 2018, to date: Jul 20, 2023, namely for a period of 1,856 days (61 Months), with an annual simple flat interest rate of 5% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 106 units (Dollar, Euro, Pound, etc.), from date: Aug 06, 2017, to date: Sep 06, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 7% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,700 units (Dollar, Euro, Pound, etc.), from date: Jan 15, 2013, to date: Feb 15, 2018, namely for a period of 1,857 days (61 Months), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 22,000 units (Dollar, Euro, Pound, etc.), from date: Feb 16, 2018, to date: Dec 16, 2018, namely for a period of 303 days (10 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 420%. Dec 09 18:32 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: Aug 21, 2015, to date: Nov 21, 2017, namely for a period of 823 days (27 Months), with an annual simple flat interest rate of 1,535% if the commission fee (withdrawal or payment) is 0%. Dec 09 18:32 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 3,000 units (Dollar, Euro, Pound, etc.), from date: May 30, 2017, to date: May 30, 2018, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 518%. Dec 09 18:31 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.