Calculate the due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1 units (Dollar, Euro, Pound, etc.), from date: Jan 1, 776, to date: Jan 1, 2019, namely for a period of 453,997 days (14,916 Months), with an annual simple flat interest rate of 16% if the commission fee (withdrawal) is 0%.

Principal (initial amount), P = 1


Annual simple interest rate, R = 16%


From date: Jan 1, 776


To date: Jan 1, 2019


Duration, T = 453,997 days (14,916 Months)


Commission fee (withdrawal), F = 0%


No. of days in a year, N = 365


I = Simple interest:

I = (P × R × T) ÷ N =


(1 × 16% × 453,997) ÷ 365 =


(1 × 16 × 453,997) ÷ (365 × 100) =


7,263,952 ÷ 36,500 ≈


199.012383561644 ≈


199.01

B = Amount earned:

B = P + I =


1 + 199.012383561644 =


200.012383561644 ≈


200.01

Signs: % percent, ÷ divide, × multiply, = equal, ≈ approximately 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 1 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 0776, to date: Jan 01, 2019, namely for a period of 453,997 days (14,916 Months), with an annual simple flat interest rate of 16% if the commission fee (withdrawal) is 0%. Dec 07 18:06 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: Apr 28, 0824, to date: Mar 28, 2017, namely for a period of 435,703 days (14,315 Months), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 0%. Dec 07 18:06 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 300 units (Dollar, Euro, Pound, etc.), from date: Apr 21, 1998, to date: Apr 21, 2020, namely for a period of 8,036 days (264 Months), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 402%. Dec 07 18:04 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: Jan 01, 0008, to date: Apr 01, 2020, namely for a period of 4,474 days (24,147 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal) is 0%. Dec 07 18:04 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: Jan 01, 2018, to date: Jan 01, 2019, namely for a period of 365 days (12 Months), with an annual simple flat interest rate of 16% if the commission fee (withdrawal) is 20%. Dec 07 18:04 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 200 units (Dollar, Euro, Pound, etc.), from date: Mar 11, 0964, to date: Jan 11, 2017, namely for a period of 384,541 days (12,634 Months), with an annual simple flat interest rate of 5% if the commission fee (withdrawal) is 0%. Dec 07 18:04 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: Feb 07, 2018, to date: Mar 07, 2018, namely for a period of 28 days, with an annual simple flat interest rate of 352% if the commission fee (withdrawal) is 0%. Dec 07 18:04 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: Jun 18, 0106, to date: Jun 18, 0952, namely for a period of 308,996 days (10,152 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Dec 07 18:03 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: Jun 20, 0422, to date: May 05, 2017, namely for a period of 582,516 days (19,139 Months without 15 Days), with an annual simple flat interest rate of 0% if the commission fee (withdrawal) is 0%. Dec 07 18:03 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: Jan 01, 0320, to date: Dec 30, 0358, namely for a period of 14,243 days (467 Months and 29 Days), with an annual simple flat interest rate of 150% if the commission fee (withdrawal) is 0%. Dec 07 18:03 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 500 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2016, to date: Jan 01, 2017, namely for a period of 366 days (12 Months), with an annual simple flat interest rate of 30% if the commission fee (withdrawal) is 0%. Dec 07 18:03 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 582 units (Dollar, Euro, Pound, etc.), from date: Apr 21, 1998, to date: Apr 12, 2026, namely for a period of 10,218 days (336 Months without 9 Days), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 94%. Dec 07 18:03 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, 2020, to date: Jan 10, 2038, namely for a period of 6,473 days (213 Months without 11 Days), with an annual simple flat interest rate of 0.01% if the commission fee (withdrawal) is 0%. Dec 07 18:03 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.