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 18,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 1,827 Days (60 Months and 1 Day), With an Annual Simple Interest Rate of 300%. The Transaction Fee Is 24%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 18,000
Annual simple interest rate, R = 300%
From date: Jul 28, 2014
To date: Jul 29, 2019
Duration, T = 1,827 days (60 Months and 1 Day)
Transaction fee rate, F% = 24%
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 =
(18,000 × 300% × 1,827) ÷ 365 =
(18,000 × 300 × 1,827) ÷ (365 × 100) =
9,865,800,000 ÷ 36,500 ≈
270,295.890410958904 ≈
270,295.89
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
18,000 + 270,295.890410958904 =
288,295.890410958904 ≈
288,295.89
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 24%) × 288,295.890410958904 =
76% × 288,295.890410958904 =
219,104.876712328767 ≈
219,104.88
Calculate the profit of the investment, Pr
Pr = L - P =
219,104.876712328767 - 18,000 =
201,104.876712328767 ≈
201,104.88
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