Simple (Flat Rate) Interest Calculator: Calculate the Annual Simple (Flat) Interest Rate of the Invested Amount of Money (Principal, Initial Starting Amount Lent, Deposited or Borrowed), of 106,998 units (Dollar, Euro, Pound, etc.) To Produce a Sum of Money of 7 units, for a period of 474,694 days (15,596 Months). The transaction fee is 990%
Detailed calculations of the simple (flat) interest rate
Notations and variables used:
Principal (initial amount), P = 106,998
Amount produced by the interest, I = 7
From date: Dec 31, 718
To date: Aug 31, 2018
Duration, T = 474,694 days (15,596 Months)
Transaction fee rate, F% = 990%
Transaction fee amount, F
Number of days in a year, N = 365
Calculate R, the annual simple (flat) interest rate to earn the amount I
The simple (flat rate) interest calculation formula:
I = (P × R × T) ÷ N ⇒
R = (N × I) ÷ (P × T) =
100% × (N × I) ÷ (P × T) =
((100 × N × I) ÷ (P × T))% =
((100 × 365 × 7) ÷ (106,998 × 474,694))% =
(255,500 ÷ 50,791,308,612)% ≈
0.000005030388% ≈
0%
Calculate E, the amount earned after adding to the principal the amount produced by the simple (flat rate) interest
E = P + I =
106,998 + 7 =
107,005
Calculate L, the amount left after deducting the transaction fee
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 990%) × 107,005 =
- 890% × 107,005 =
- 952,344.5
Calculate Pr, the profit of the investment
Pr = L - P =
- 952,344.5 - 106,998 =
- 1,059,342.5
Used symbols: % percent, ÷ divide, × multiply, = equal, ≈ approximately equal.
Writing numbers: comma ',' used as thousands separator, point '.' used as a decimal mark.
Simple (flat) interest rate, more calculations:
Calculator: annual simple interest rate to negociate to earn a certain amount
Annual simple flat interest rate = (Simple flat rate interest × Number of days in a year) ÷ (Principal × Duration in days)