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 11,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 1,491 Days (49 Months without 1 Days), With an Annual Simple Interest Rate of 5%. The Transaction Fee Is 238%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 11,000
Annual simple interest rate, R = 5%
From date: Aug 31, 2018
To date: Sep 30, 2022
Duration, T = 1,491 days (49 Months without 1 Days)
Transaction fee rate, F% = 238%
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 =
(11,000 × 5% × 1,491) ÷ 365 =
(11,000 × 5 × 1,491) ÷ (365 × 100) =
82,005,000 ÷ 36,500 ≈
2,246.712328767123 ≈
2,246.71
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
11,000 + 2,246.712328767123 =
13,246.712328767123 ≈
13,246.71
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 238%) × 13,246.712328767123 =
- 138% × 13,246.712328767123 ≈
- 18,280.46301369863 ≈
- 18,280.46
Calculate the profit of the investment, Pr
Pr = L - P =
- 18,280.46301369863 - 11,000 =
- 29,280.46301369863 ≈
- 29,280.46
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