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 1,000,000,000,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 406,180 Days (13,345 Months and 2 Days), With an Annual Simple Interest Rate of 0.03%. The Transaction Fee Is 640%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 1,000,000,000,000
Annual simple interest rate, R = 0.03%
From date: Feb 9, 906
To date: Mar 11, 2018
Duration, T = 406,180 days (13,345 Months and 2 Days)
Transaction fee rate, F% = 640%
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 =
(1,000,000,000,000 × 0.03% × 406,180) ÷ 365 =
(1,000,000,000,000 × 0.03 × 406,180) ÷ (365 × 100) =
12,185,400,000,000,000 ÷ 36,500 ≈
333,846,575,342.465753424658 ≈
333,846,575,342.47
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
1,000,000,000,000 + 333,846,575,342.465753424658 =
1,333,846,575,342.465753424658 ≈
1,333,846,575,342.47
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 640%) × 1,333,846,575,342.465753424658 =
- 540% × 1,333,846,575,342.465753424658 ≈
- 7,202,771,506,849.315068493153 ≈
- 7,202,771,506,849.32
Calculate the profit of the investment, Pr
Pr = L - P =
- 7,202,771,506,849.315068493153 - 1,000,000,000,000 =
- 8,202,771,506,849.315068493153 ≈
- 8,202,771,506,849.32
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