Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 18, 308, to date: Jun 25, 2017, namely for a period of 624,238 days (20,509 Months and 7 Days), with an annual simple flat interest rate of 60% if the commission fee (withdrawal) is 0%.

Principal (initial amount), P = 0


Annual simple interest rate, R = 60%


From date: May 18, 308


To date: Jun 25, 2017


Duration, T = 624,238 days (20,509 Months and 7 Days)


Commission fee (withdrawal), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(0 × 60% × 624,238) ÷ 365 =


(0 × 60 × 624,238) ÷ (365 × 100) =


0 ÷ 36,500 =


0

B = Amount earned:

B = P + I =


0 + 0 =


0

Signs: % percent, ÷ divide, × multiply, = equal;

Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark;

Calculate simple flat rate interest on a principal borrowed, lent

Simple flat rate interest = (Principal × Annual simple flat interest rate × Duration in days) ÷ Number of days in a year

Latest calculated simple flat rate interest values

Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 18, 0308, to date: Jun 25, 2017, namely for a period of 624,238 days (20,509 Months and 7 Days), with an annual simple flat interest rate of 60% if the commission fee (withdrawal) is 0%. Oct 22 13:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 18, 0728, to date: Jun 18, 2017, namely for a period of 470,829 days (15,469 Months), with an annual simple flat interest rate of 216% if the commission fee (withdrawal) is 216%. Oct 22 13:03 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1 units (Dollar, Euro, Pound, etc.), from date: Feb 11, 2018, to date: Mar 21, 2018, namely for a period of 38 days (1 Month and 10 Days), with an annual simple flat interest rate of 0.03% if the commission fee (withdrawal) is 464%. Oct 22 13:03 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Jun 21, 0350, to date: May 21, 2017, namely for a period of 608,829 days (20,003 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal) is 0%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1 units (Dollar, Euro, Pound, etc.), from date: May 25, 0236, to date: Jun 25, 2018, namely for a period of 650,893 days (21,385 Months), with an annual simple flat interest rate of 178% if the commission fee (withdrawal) is 0%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,000,000 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2018, to date: Mar 01, 2018, namely for a period of 59 days (2 Months), with an annual simple flat interest rate of 892% if the commission fee (withdrawal) is 0%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 18, 2017, to date: Jun 11, 2038, namely for a period of 7,694 days (253 Months without 7 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 668%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2018, to date: Jan 01, 2023, namely for a period of 1,826 days (60 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal) is 302%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 18, 0358, to date: Jun 18, 0768, namely for a period of 149,781 days (4,921 Months), with an annual simple flat interest rate of 818% if the commission fee (withdrawal) is 0%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 0 units (Dollar, Euro, Pound, etc.), from date: May 02, 0742, to date: Jun 17, 2017, namely for a period of 465,731 days (15,301 Months and 15 Days), with an annual simple flat interest rate of - 3% if the commission fee (withdrawal) is 0%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of - 1,650 units (Dollar, Euro, Pound, etc.), from date: Apr 21, 0334, to date: Apr 21, 0368, namely for a period of 12,419 days (408 Months), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 0%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of - 1,650 units (Dollar, Euro, Pound, etc.), from date: Apr 06, 0456, to date: Apr 21, 1998, namely for a period of 563,218 days (18,504 Months and 15 Days), with an annual simple flat interest rate of 492% if the commission fee (withdrawal) is 424%. Oct 22 13:02 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 43,216 units (Dollar, Euro, Pound, etc.), from date: Jan 09, 2019, to date: Dec 31, 2019, namely for a period of 356 days (11 Months and 22 Days), with an annual simple flat interest rate of 3% if the commission fee (withdrawal) is 0%. Oct 22 13:01 UTC (GMT)
All users calculated simple flat rate interest values


Simple flat rate interest.

Interest

  • When someone lends money to someone else, the borrower usually pays a fee to the lender. So the due interest is a sum paid or charged for the use of money or for borrowing money. The interest depends on: 1) the period of the loan 2) the amount of money lent or borrowed (called principal) and 3) the interest rate (the percentage of the principal charged as interest).
  • For example, for some bank deposits is not uncommon to pay an interest rate of 3.5% on the principal, annualy. Banks are also using these temporarily owned amounts of money by introducing them back into the cash flow circuit or are granting loans (for investments, for example) on which they are again charging interest.

Annual simple flat interest rate

  • The simple annual interest rate, or the percentage of the principal charged as interest for a period of one year, shows us that for an amount of 100 units (ex: Dollar, Euro, Yen, Pound, Franc), in a year, the interest is calculated as a percentage p% of the principal: I = p% × 100 units.
  • A deposit of S units generates a one year simple interest of: I = S × p% units, and in n years, the same deposit of S units generates an interest of: I = S × p% × n units.

Annual simple flat rate interest formula:

  • I = S × p% × n

  • I = n years simple flat rate interest charged
  • S = initial amount (principal)
  • p% = annual simple flat interest rate (percentage of the principal charged as interest)
  • n = number of years of the lending or borrowing the money

Examples of how the simple flat rate interest formula works:

  • 1) What interest, I, generates in n = 5 years a principal of S = 20,000 units if the annual simple flat interest rate is p% = 3.5%?
    Answer:
    I = S × p% × n = 20,000 × 3.5% × 5 = 20,000 × 3.5 ÷ 100 × 5 = 1,000 × 3.5 = 3,500 units
  • 2) What is the simple flat interest rate, p%, if a principal of S = 12,000 units is charged a n = 6 years interest of I = 2,880 units?
    Answer:
    I = S × p% × n =>
    p% = I ÷ (S × n) = 2,880 ÷ (12,000 × 6) = 0.04 = 4%.

Annual simple flat rate interest formula calculated for a period of n years:

  • Interest, I = S × p% × n
  • Principal, S = I ÷ (p% × n)
  • Interest rate, p% = I ÷ (S × n)
  • Number of years (period): n = I ÷ (S × p%)

Annual simple flat rate interest formula calculated for a period of m months:

  • Interest, I = (S × p% × m) ÷ 12
  • Principal, S = (12 × I) ÷ (p% × m)
  • Interest rate, p% = (12 × I) ÷ (S × m)
  • Number of months of the period, m = (12 × I) ÷ (S × p%)

Annual simple flat rate interest formula calculated for a period of d days:

  • Interest, I = (S × p% × d) ÷ 365
  • Principal, S = (365 × I) ÷ (p% × d)
  • Simple flat interest rate, p% = (365 × I) ÷ (S × d)
  • Number of days of the period, d = (365 × I) ÷ (S × p%)

More examples of how the simple flat rate interest formula works:

  • 1) Calculate the due interest on a principal of S = 400 units in m = 5 months, with a simple flat interest rate of p% = 4%.
    Answer:
    I = (S × p% × m) ÷ 12 = (400 × 4% × 5) ÷ 12 = (400 × 4 ÷ 100 × 5) ÷ 12 = 16 × 5 ÷ 12 = 20 ÷ 3 = 6.67 units
  • 2) Calculate the due interest generated by a principal of S = 400 units in m = 5 months if the simple flat interest rate of p% = 4.5%.
    Answer:
    I = (S × p% × m) ÷ 12 = (400 × 4.5% × 5) ÷ 12 = (400 × 4.5 ÷ 100 × 5) ÷ 12 = 18 × 5 ÷ 12 = 15 ÷ 2 = 7.5 units.