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 0 units (Dollar, Euro, Pound, etc.), from date: May 23, 0408, to date: May 17, 2019, namely for a period of 588,399 days (19,332 Months without 6 Days), with an annual simple flat interest rate of 50% if the commission fee (withdrawal) is 0%. Oct 22 13:30 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: 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 0%. Oct 22 13:30 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, 0562, to date: Jul 09, 0696, namely for a period of 48,973 days (1,609 Months), with an annual simple flat interest rate of 2.75% if the commission fee (withdrawal) is 0%. Oct 22 13:30 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: Oct 05, 0378, to date: Sep 05, 2016, namely for a period of 598,238 days (19,655 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal) is 244%. Oct 22 13:30 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, 0626, to date: Jun 18, 0888, namely for a period of 95,726 days (3,145 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Oct 22 13:30 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, 2017, to date: Jun 18, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 832% if the commission fee (withdrawal) is 160%. Oct 22 13:29 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 25, 0296, to date: May 18, 2017, namely for a period of 628,544 days (20,651 Months without 7 Days), with an annual simple flat interest rate of 920% if the commission fee (withdrawal) is 0%. Oct 22 13:29 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 938 units (Dollar, Euro, Pound, etc.), from date: Feb 22, 2017, to date: Feb 22, 2018, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Oct 22 13:29 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of - 1,650 units (Dollar, Euro, Pound, etc.), from date: Apr 21, 0842, to date: Apr 21, 2020, namely for a period of 430,256 days (14,136 Months), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 258%. Oct 22 13:29 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 15,000 units (Dollar, Euro, Pound, etc.), from date: Sep 18, 2021, to date: Sep 18, 2026, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 3.1% if the commission fee (withdrawal) is 0%. Oct 22 13:29 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 27, 0744, to date: Apr 27, 2019, namely for a period of 465,715 days (15,301 Months), with an annual simple flat interest rate of 12% if the commission fee (withdrawal) is 0%. Oct 22 13:29 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 07, 0916, to date: Feb 07, 2018, namely for a period of 402,469 days (13,223 Months), with an annual simple flat interest rate of 1.5% if the commission fee (withdrawal) is 888%. Oct 22 13:28 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 24, 0100, to date: May 10, 2017, namely for a period of 6,164 days (23,003 Months without 14 Days), with an annual simple flat interest rate of - 3% if the commission fee (withdrawal) is 0%. Oct 22 13:28 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.