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 2,500.98 units (Dollar, Euro, Pound, etc.), from date: Jul 27, 2015, to date: Nov 29, 2017, namely for a period of 856 days (28 Months and 2 Days), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:05 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 500,000 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 0%. Feb 22 10:05 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 300 units (Dollar, Euro, Pound, etc.), from date: Nov 01, 2017, to date: Dec 01, 2017, namely for a period of 30 days, with an annual simple flat interest rate of 82% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:05 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,584,966 units (Dollar, Euro, Pound, etc.), from date: Feb 26, 2013, to date: Sep 05, 2018, namely for a period of 2,017 days (67 Months without 21 Days), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 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: May 19, 2007, to date: Jan 19, 2018, namely for a period of 3,898 days (128 Months), with an annual simple flat interest rate of 62% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 210 units (Dollar, Euro, Pound, etc.), from date: Jun 26, 2012, to date: Sep 29, 2018, namely for a period of 2,286 days (75 Months and 3 Days), with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 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: Nov 07, 2019, to date: Dec 07, 2019, namely for a period of 30 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 138 units (Dollar, Euro, Pound, etc.), from date: Nov 02, 2017, to date: Dec 02, 2021, namely for a period of 1,491 days (49 Months), with an annual simple flat interest rate of 1.5% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 450 units (Dollar, Euro, Pound, etc.), from date: Jun 29, 2017, to date: Jul 29, 2017, namely for a period of 30 days, with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 710 units (Dollar, Euro, Pound, etc.), from date: Mar 19, 2017, to date: Apr 19, 2018, namely for a period of 396 days (13 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 94,000 units (Dollar, Euro, Pound, etc.), from date: Apr 01, 2018, to date: Mar 30, 2020, namely for a period of 729 days (23 Months and 29 Days), with an annual simple flat interest rate of 4% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 166,721 units (Dollar, Euro, Pound, etc.), from date: Mar 13, 2018, to date: Apr 13, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 0.5% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 5,000 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2018, to date: Jan 01, 2023, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 10% if the commission fee (withdrawal or payment) is 0%. Feb 22 10:04 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.