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: Feb 22, 0276, to date: Feb 16, 2018, namely for a period of 636,247 days (20,904 Months without 6 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Dec 07 18:38 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 16, 0180, to date: Sep 16, 0676, namely for a period of 181,130 days (5,951 Months), with an annual simple flat interest rate of 652% if the commission fee (withdrawal) is 0%. Dec 07 18:37 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, 0466, to date: Apr 21, 1998, namely for a period of 559,551 days (18,384 Months), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 0%. Dec 07 18:36 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: Jul 08, 2017, namely for a period of 535,131 days (17,582 Months without 10 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 216%. Dec 07 18:33 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: Jul 08, 2017, namely for a period of 535,131 days (17,582 Months without 10 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 216%. Dec 07 18:32 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 01, 2019, to date: Dec 30, 2019, namely for a period of 363 days (11 Months and 29 Days), with an annual simple flat interest rate of 858% if the commission fee (withdrawal) is 0%. Dec 07 18:32 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, 2018, to date: Jun 07, 2018, namely for a period of 92 days (3 Months), with an annual simple flat interest rate of 1.5% if the commission fee (withdrawal) is 0%. Dec 07 18:32 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 15, 0564, to date: Jun 18, 2017, namely for a period of 530,731 days (17,437 Months and 3 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 750%. Dec 07 18:32 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 01, 2019, to date: Jun 01, 2019, namely for a period of 151 days (5 Months), with an annual simple flat interest rate of 820% if the commission fee (withdrawal) is 0%. Dec 07 18:31 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 30, 0468, to date: Apr 21, 1998, namely for a period of 558,811 days (18,360 Months without 9 Days), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 700%. Dec 07 18:29 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: May 18, 0308, to date: Apr 18, 0648, namely for a period of 124,153 days (4,079 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 404%. Dec 07 18:29 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 15,225.61 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2017, to date: Mar 19, 2017, namely for a period of 77 days (2 Months and 18 Days), with an annual simple flat interest rate of 5% if the commission fee (withdrawal) is 0%. Dec 07 18:29 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: Nov 01, 0926, to date: Oct 25, 2018, namely for a period of 398,838 days (13,103 Months and 24 Days), with an annual simple flat interest rate of 786% if the commission fee (withdrawal) is 0%. Dec 07 18:27 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.