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 31 Days , With an Annual Simple Interest Rate of 3%. The Transaction Fee Is 678%.
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 = 3%
From date: May 13, 2017
To date: Jun 13, 2017
Duration, T = 31 days
Transaction fee rate, F% = 678%
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 × 3% × 31) ÷ 365 =
(1,000,000,000,000 × 3 × 31) ÷ (365 × 100) =
93,000,000,000,000 ÷ 36,500 ≈
2,547,945,205.479452054795 ≈
2,547,945,205.48
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
1,000,000,000,000 + 2,547,945,205.479452054795 =
1,002,547,945,205.479452054795 ≈
1,002,547,945,205.48
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 678%) × 1,002,547,945,205.479452054795 =
- 578% × 1,002,547,945,205.479452054795 ≈
- 5,794,727,123,287.671232876715 ≈
- 5,794,727,123,287.67
Calculate the profit of the investment, Pr
Pr = L - P =
- 5,794,727,123,287.671232876715 - 1,000,000,000,000 =
- 6,794,727,123,287.671232876715 ≈
- 6,794,727,123,287.67
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