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 64 Units (Dollar, Euro, Pound, etc.) for an Investment Duration Period of 378,791 Days (12,445 Months and 4 Days), With an Annual Simple Interest Rate of 10%. The Transaction Fee Is 824%.
Detailed simple (flat rate) interest calculations
Notations and variables used:
Simple (flat rate) interest amount, I
Principal (initial amount), P = 64
Annual simple interest rate, R = 10%
From date: May 2, 980
To date: Jun 6, 2017
Duration, T = 378,791 days (12,445 Months and 4 Days)
Transaction fee rate, F% = 824%
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 =
(64 × 10% × 378,791) ÷ 365 =
(64 × 10 × 378,791) ÷ (365 × 100) =
242,426,240 ÷ 36,500 ≈
6,641.814794520548 ≈
6,641.81
Calculate the amount earned after adding the simple (flat rate) interest to the principal, E
E = P + I =
64 + 6,641.814794520548 =
6,705.814794520548 ≈
6,705.81
Calculate the amount left after deducting the transaction fee, L
F = F% × E ⇒
L = E - F =
E - F% × E =
(1 - F%) × E =
(1 - 824%) × 6,705.814794520548 =
- 724% × 6,705.814794520548 ≈
- 48,550.099112328768 ≈
- 48,550.1
Calculate the profit of the investment, Pr
Pr = L - P =
- 48,550.099112328768 - 64 =
- 48,614.099112328768 ≈
- 48,614.1
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