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 120,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 30 Days , With an Annual Simple Interest Rate of 9%. The Transaction Fee Is 666%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 120,000
Annual simple interest rate, R = 9%
From date: Apr 18, 2019
To date: May 18, 2019
Duration, T = 30 days
Transaction fee rate, F% = 666%
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 =
(120,000 × 9% × 30) ÷ 365 =
(120,000 × 9 × 30) ÷ (365 × 100) =
32,400,000 ÷ 36,500 ≈
887.671232876712 ≈
887.67
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
120,000 + 887.671232876712 =
120,887.671232876712 ≈
120,887.67
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 666%) × 120,887.671232876712 =
- 566% × 120,887.671232876712 ≈
- 684,224.21917808219 ≈
- 684,224.22
Calculate the profit of the investment, Pr
Pr = L - P =
- 684,224.21917808219 - 120,000 =
- 804,224.21917808219 ≈
- 804,224.22
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