Simple (Flat Rate) Interest Calculator: Calculate the Sum of Money Earned by a Principal Amount of Money (Initial Starting Amount Lent, Deposited or Borrowed) of 1,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 30 Days , With an Annual Simple Interest Rate of 1%. The Transaction Fee Is 210%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 1,000
Annual simple interest rate, R = 1%
From date: Nov 14, 2018
To date: Dec 14, 2018
Duration, T = 30 days
Transaction fee rate, F% = 210%
Transaction fee amount, F
Number of days in a year, N = 365
Calculate the amount of the simple (flat rate) interest, I
The simple (flat rate) interest calculation formula:
I = (P × R × T) ÷ N ⇒
I = (P × R × T) ÷ N =
(1,000 × 1% × 30) ÷ 365 =
(1,000 × 1 × 30) ÷ (365 × 100) =
30,000 ÷ 36,500 ≈
0.821917808219 ≈
0.82
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
1,000 + 0.821917808219 =
1,000.821917808219 ≈
1,000.82
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 210%) × 1,000.821917808219 =
- 110% × 1,000.821917808219 ≈
- 1,100.904109589041 ≈
- 1,100.9
Calculate the profit of the investment, Pr
Pr = L - P =
- 1,100.904109589041 - 1,000 =
- 2,100.904109589041 ≈
- 2,100.9
Used symbols: % percent, ÷ divide, × multiply, = equal, ≈ approximately equal.
Writing numbers: comma ',' used as thousands separator, point '.' used as a decimal mark.
More operations, calculate the simple (flat rate) interest:
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