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 25,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 401 Days (13 Months and 5 Days), With an Annual Simple Interest Rate of 9%. The Transaction Fee Is 1.5%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 25,000
Annual simple interest rate, R = 9%
From date: May 9, 2018
To date: Jun 14, 2019
Duration, T = 401 days (13 Months and 5 Days)
Transaction fee rate, F% = 1.5%
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 =
(25,000 × 9% × 401) ÷ 365 =
(25,000 × 9 × 401) ÷ (365 × 100) =
90,225,000 ÷ 36,500 =
2,471.917808219178 ≈
2,471.92
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
25,000 + 2,471.917808219178 =
27,471.917808219178 ≈
27,471.92
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 1.5%) × 27,471.917808219178 =
98.5% × 27,471.917808219178 ≈
27,059.83904109589 ≈
27,059.84
Calculate the profit of the investment, Pr
Pr = L - P =
27,059.83904109589 - 25,000 =
2,059.83904109589 ≈
2,059.84
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