Simple flat rate interest calculator: calculate the due interest on an amount of money lent, deposited or borrowed by the interest rate, principal (starting amount), duration and additional transactional fees (withdrawal, payment in advance)

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 12,000 units (Dollar, Euro, Pound, etc.), from date: Jan 08, 2018, to date: Oct 08, 2018, namely for a period of 273 days (9 Months), with an annual simple flat interest rate of 424% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 806 units (Dollar, Euro, Pound, etc.), from date: May 30, 2017, to date: Jun 30, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 1.8% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 11,364.74 units (Dollar, Euro, Pound, etc.), from date: Apr 10, 2018, to date: May 30, 2020, namely for a period of 781 days (25 Months and 20 Days), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:58 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: Mar 11, 2019, to date: Apr 11, 2019, namely for a period of 31 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:58 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: Aug 23, 2017, to date: Sep 23, 2017, namely for a period of 31 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:58 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: Jan 21, 2019, to date: Feb 21, 2019, namely for a period of 31 days, with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:57 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: Feb 05, 2017, to date: Mar 05, 2018, namely for a period of 393 days (13 Months), with an annual simple flat interest rate of 1,675% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:57 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 7,200 units (Dollar, Euro, Pound, etc.), from date: Sep 27, 2018, to date: Nov 26, 2018, namely for a period of 60 days (2 Months without 1 Days), with an annual simple flat interest rate of 12,000% if the commission fee (withdrawal or payment) is 600%. Nov 22 09:57 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: May 13, 2019, to date: Jun 13, 2019, namely for a period of 31 days, with an annual simple flat interest rate of 9.22% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:56 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,332 units (Dollar, Euro, Pound, etc.), from date: Aug 28, 2018, to date: May 03, 2048, namely for a period of 10,841 days (357 Months without 25 Days), with an annual simple flat interest rate of 0.1% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:56 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 9,400 units (Dollar, Euro, Pound, etc.), from date: Nov 15, 2018, to date: Dec 15, 2018, namely for a period of 30 days, with an annual simple flat interest rate of 25% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:56 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,429 units (Dollar, Euro, Pound, etc.), from date: Mar 26, 2012, to date: Mar 26, 2018, namely for a period of 2,191 days (72 Months), with an annual simple flat interest rate of 6% if the commission fee (withdrawal or payment) is 0%. Nov 22 09:56 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: Mar 15, 2019, to date: Apr 15, 2044, namely for a period of 9,163 days (301 Months), with an annual simple flat interest rate of 1.6% if the commission fee (withdrawal or payment) is 1.6%. Nov 22 09:55 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.