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 1,100 units (Dollar, Euro, Pound, etc.) To Produce a Sum of Money of 69 units, for a period of 220 days (7 Months and 6 Days). The transaction fee is 796%
Detailed calculations of the simple (flat) interest rate
Notations and variables used:
Principal (initial amount), P = 1,100
Amount produced by the interest, I = 69
From date: Mar 24, 2017
To date: Oct 30, 2017
Duration, T = 220 days (7 Months and 6 Days)
Transaction fee rate, F% = 796%
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 × 69) ÷ (1,100 × 220))% =
(2,518,500 ÷ 242,000)% ≈
10.407024793388% ≈
10.41%
Calculate E, the amount earned after adding to the principal the amount produced by the simple (flat rate) interest
E = P + I =
1,100 + 69 =
1,169
Calculate L, the amount left after deducting the transaction fee
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 796%) × 1,169 =
- 696% × 1,169 =
- 8,136.24
Calculate Pr, the profit of the investment
Pr = L - P =
- 8,136.24 - 1,100 =
- 9,236.24
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)