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 10,500 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 451,805 Days (14,844 Months), With an Annual Simple Interest Rate of 1.99%. The Transaction Fee Is 2.5%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 10,500
Annual simple interest rate, R = 1.99%
From date: Dec 7, 780
To date: Dec 7, 2017
Duration, T = 451,805 days (14,844 Months)
Transaction fee rate, F% = 2.5%
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 =
(10,500 × 1.99% × 451,805) ÷ 365 =
(10,500 × 1.99 × 451,805) ÷ (365 × 100) =
9,440,465,475 ÷ 36,500 ≈
258,642.889726027397 ≈
258,642.89
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
10,500 + 258,642.889726027397 =
269,142.889726027397 ≈
269,142.89
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 2.5%) × 269,142.889726027397 =
97.5% × 269,142.889726027397 =
262,414.317482876712 ≈
262,414.32
Calculate the profit of the investment, Pr
Pr = L - P =
262,414.317482876712 - 10,500 =
251,914.317482876712 ≈
251,914.32
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