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 9,937 units (Dollar, Euro, Pound, etc.) To Produce a Sum of Money of 12.67 units, for a period of 192 days (6 Months and 9 Days). The transaction fee is 790%
Detailed calculations of the simple (flat) interest rate
Notations and variables used:
Principal (initial amount), P = 9,937
Amount produced by the interest, I = 12.67
From date: Apr 1, 2017
To date: Oct 10, 2017
Duration, T = 192 days (6 Months and 9 Days)
Transaction fee rate, F% = 790%
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 × 12.67) ÷ (9,937 × 192))% =
(462,455 ÷ 1,907,904)% =
0.242389030056% ≈
0.24%
Calculate E, the amount earned after adding to the principal the amount produced by the simple (flat rate) interest
E = P + I =
9,937 + 12.67 =
9,949.67
Calculate L, the amount left after deducting the transaction fee
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 790%) × 9,949.67 =
- 690% × 9,949.67 =
- 68,652.723 ≈
- 68,652.72
Calculate Pr, the profit of the investment
Pr = L - P =
- 68,652.723 - 9,937 =
- 78,589.723 ≈
- 78,589.72
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)