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 13,510 units (Dollar, Euro, Pound, etc.) To Produce a Sum of Money of 295 units, for a period of 663,707 days (21,805 Months and 30 Days). The transaction fee is 0.35%
Detailed calculations of the simple (flat) interest rate
Notations and variables used:
Principal (initial amount), P = 13,510
Amount produced by the interest, I = 295
From date: Jul 1, 200
To date: Aug 31, 2017
Duration, T = 663,707 days (21,805 Months and 30 Days)
Transaction fee rate, F% = 0.35%
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 × 295) ÷ (13,510 × 663,707))% =
(10,767,500 ÷ 8,966,681,570)% ≈
0.001200834435% ≈
0%
Calculate E, the amount earned after adding to the principal the amount produced by the simple (flat rate) interest
E = P + I =
13,510 + 295 =
13,805
Calculate L, the amount left after deducting the transaction fee
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 0.35%) × 13,805 =
99.65% × 13,805 =
13,756.6825 ≈
13,756.68
Calculate Pr, the profit of the investment
Pr = L - P =
13,756.6825 - 13,510 =
246.6825 ≈
246.68
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)