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 10,501 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 31 Days , With an Annual Simple Interest Rate of 35%. The Transaction Fee Is 452%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 10,501
Annual simple interest rate, R = 35%
From date: May 7, 2017
To date: Jun 7, 2017
Duration, T = 31 days
Transaction fee rate, F% = 452%
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 =
(10,501 × 35% × 31) ÷ 365 =
(10,501 × 35 × 31) ÷ (365 × 100) =
11,393,585 ÷ 36,500 ≈
312.15301369863 ≈
312.15
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
10,501 + 312.15301369863 =
10,813.15301369863 ≈
10,813.15
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 452%) × 10,813.15301369863 =
- 352% × 10,813.15301369863 ≈
- 38,062.298608219178 ≈
- 38,062.3
Calculate the profit of the investment, Pr
Pr = L - P =
- 38,062.298608219178 - 10,501 =
- 48,563.298608219178 ≈
- 48,563.3
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