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 4,000 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 30 Days , With an Annual Simple Interest Rate of 2%. The Transaction Fee Is 1,500%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 4,000
Annual simple interest rate, R = 2%
From date: Nov 8, 2019
To date: Dec 8, 2019
Duration, T = 30 days
Transaction fee rate, F% = 1,500%
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 =
(4,000 × 2% × 30) ÷ 365 =
(4,000 × 2 × 30) ÷ (365 × 100) =
240,000 ÷ 36,500 ≈
6.575342465753 ≈
6.58
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
4,000 + 6.575342465753 =
4,006.575342465753 ≈
4,006.58
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 1,500%) × 4,006.575342465753 =
- 1,400% × 4,006.575342465753 =
- 56,092.054794520542 ≈
- 56,092.05
Calculate the profit of the investment, Pr
Pr = L - P =
- 56,092.054794520542 - 4,000 =
- 60,092.054794520542 ≈
- 60,092.05
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