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 2,000,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 365 Days (12 Months), With an Annual Simple Interest Rate of 10%. The Transaction Fee Is 10%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 2,000,000
Annual simple interest rate, R = 10%
From date: Apr 5, 2021
To date: Apr 5, 2022
Duration, T = 365 days (12 Months)
Transaction fee rate, F% = 10%
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 =
(2,000,000 × 10% × 365) ÷ 365 =
(2,000,000 × 10 × 365) ÷ (365 × 100) =
7,300,000,000 ÷ 36,500 =
200,000
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
2,000,000 + 200,000 =
2,200,000
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 10%) × 2,200,000 =
90% × 2,200,000 =
1,980,000
Calculate the profit of the investment, Pr
Pr = L - P =
1,980,000 - 2,000,000 =
- 20,000
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