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 12,000 units (Dollar, Euro, Pound, etc.) To Produce a Sum of Money of 12.93 units, for a period of 162 days (5 Months and 9 Days). The transaction fee is 476%
Detailed calculations of the simple (flat) interest rate
Notations and variables used:
Principal (initial amount), P = 12,000
Amount produced by the interest, I = 12.93
From date: Jul 1, 2017
To date: Dec 10, 2017
Duration, T = 162 days (5 Months and 9 Days)
Transaction fee rate, F% = 476%
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 × 12.93) ÷ (12,000 × 162))% =
(471,945 ÷ 1,944,000)% ≈
0.242770061728% ≈
0.24%
Calculate E, the amount earned after adding to the principal the amount produced by the simple (flat rate) interest
E = P + I =
12,000 + 12.93 =
12,012.93
Calculate L, the amount left after deducting the transaction fee
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 476%) × 12,012.93 =
- 376% × 12,012.93 =
- 45,168.6168 ≈
- 45,168.62
Calculate Pr, the profit of the investment
Pr = L - P =
- 45,168.6168 - 12,000 =
- 57,168.6168 ≈
- 57,168.62
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)