Online calculator: calculate the due 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

Latest calculated simple flat rate interest values

Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 678 units (Dollar, Euro, Pound, etc.), from date: Apr 16, 2018, to date: May 17, 2018, namely for a period of 31 days, with an annual simple flat interest rate of 0.02% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,000 units (Dollar, Euro, Pound, etc.), from date: Jul 23, 2017, to date: Jan 23, 2056, namely for a period of 14,063 days (462 Months), with an annual simple flat interest rate of 0% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 4,000 units (Dollar, Euro, Pound, etc.), from date: Dec 19, 2008, to date: Jan 19, 2019, namely for a period of 3,683 days (121 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Nov 22, 0950, to date: Nov 22, 2019, namely for a period of 390,444 days (12,828 Months), with an annual simple flat interest rate of 3% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 2,140 units (Dollar, Euro, Pound, etc.), from date: Jul 01, 1972, to date: Jul 01, 2017, namely for a period of 16,436 days (540 Months), with an annual simple flat interest rate of 9% if the commission fee (withdrawal or payment) is 3%. Nov 24 19:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Jul 26, 2017, to date: Jul 26, 2024, namely for a period of 2,557 days (84 Months), with an annual simple flat interest rate of 16% if the commission fee (withdrawal or payment) is 256%. Nov 24 19:59 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 10,000 units (Dollar, Euro, Pound, etc.), from date: Feb 19, 2019, to date: Mar 19, 2019, namely for a period of 28 days, with an annual simple flat interest rate of 7.5% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:58 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Dec 31, 0774, to date: Jan 01, 2018, namely for a period of 453,998 days (14,917 Months without 30 Days), with an annual simple flat interest rate of 24% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:58 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 538 units (Dollar, Euro, Pound, etc.), from date: Jul 31, 0138, to date: Aug 06, 2018, namely for a period of 686,662 days (22,561 Months without 25 Days), with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 6%. Nov 24 19:58 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 538 units (Dollar, Euro, Pound, etc.), from date: Jul 31, 0138, to date: Aug 06, 2018, namely for a period of 686,662 days (22,561 Months without 25 Days), with an annual simple flat interest rate of 12% if the commission fee (withdrawal or payment) is 6%. Nov 24 19:58 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 100 units (Dollar, Euro, Pound, etc.), from date: Jan 01, 2018, to date: Jan 31, 2018, namely for a period of 30 days, with an annual simple flat interest rate of 72% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:58 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 40,000 units (Dollar, Euro, Pound, etc.), from date: May 17, 2018, to date: Feb 17, 2019, namely for a period of 276 days (9 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:58 UTC (GMT)
Calculate due interest earned by a principal (initial amount of money lent, deposited or borrowed) of 1,770 units (Dollar, Euro, Pound, etc.), from date: Nov 05, 2010, to date: Jun 05, 2036, namely for a period of 9,344 days (307 Months), with an annual simple flat interest rate of 2% if the commission fee (withdrawal or payment) is 0%. Nov 24 19:58 UTC (GMT)
All users calculated simple flat rate interest values


Simple flat rate interest.

Interest

  • When someone lends money to someone else, the borrower usually pays a fee to the lender. So the due interest is a sum paid or charged for the use of money or for borrowing money. The interest depends on: 1) the period of the loan 2) the amount of money lent or borrowed (called principal) and 3) the interest rate (the percentage of the principal charged as interest).
  • For example, for some bank deposits is not uncommon to pay an interest rate of 3.5% on the principal, annualy. Banks are also using these temporarily owned amounts of money by introducing them back into the cash flow circuit or are granting loans (for investments, for example) on which they are again charging interest.

Annual simple flat interest rate

  • The simple annual interest rate, or the percentage of the principal charged as interest for a period of one year, shows us that for an amount of 100 units (ex: Dollar, Euro, Yen, Pound, Franc), in a year, the interest is calculated as a percentage p% of the principal: I = p% × 100 units.
  • A deposit of S units generates a one year simple interest of: I = S × p% units, and in n years, the same deposit of S units generates an interest of: I = S × p% × n units.

Annual simple flat rate interest formula:

  • I = S × p% × n

  • I = n years simple flat rate interest charged
  • S = initial amount (principal)
  • p% = annual simple flat interest rate (percentage of the principal charged as interest)
  • n = number of years of the lending or borrowing the money

Examples of how the simple flat rate interest formula works:

  • 1) What interest, I, generates in n = 5 years a principal of S = 20,000 units if the annual simple flat interest rate is p% = 3.5%?
    Answer:
    I = S × p% × n = 20,000 × 3.5% × 5 = 20,000 × 3.5 ÷ 100 × 5 = 1,000 × 3.5 = 3,500 units
  • 2) What is the simple flat interest rate, p%, if a principal of S = 12,000 units is charged a n = 6 years interest of I = 2,880 units?
    Answer:
    I = S × p% × n =>
    p% = I ÷ (S × n) = 2,880 ÷ (12,000 × 6) = 0.04 = 4%.

Annual simple flat rate interest formula calculated for a period of n years:

  • Interest, I = S × p% × n
  • Principal, S = I ÷ (p% × n)
  • Interest rate, p% = I ÷ (S × n)
  • Number of years (period): n = I ÷ (S × p%)

Annual simple flat rate interest formula calculated for a period of m months:

  • Interest, I = (S × p% × m) ÷ 12
  • Principal, S = (12 × I) ÷ (p% × m)
  • Interest rate, p% = (12 × I) ÷ (S × m)
  • Number of months of the period, m = (12 × I) ÷ (S × p%)

Annual simple flat rate interest formula calculated for a period of d days:

  • Interest, I = (S × p% × d) ÷ 365
  • Principal, S = (365 × I) ÷ (p% × d)
  • Simple flat interest rate, p% = (365 × I) ÷ (S × d)
  • Number of days of the period, d = (365 × I) ÷ (S × p%)

More examples of how the simple flat rate interest formula works:

  • 1) Calculate the due interest on a principal of S = 400 units in m = 5 months, with a simple flat interest rate of p% = 4%.
    Answer:
    I = (S × p% × m) ÷ 12 = (400 × 4% × 5) ÷ 12 = (400 × 4 ÷ 100 × 5) ÷ 12 = 16 × 5 ÷ 12 = 20 ÷ 3 = 6.67 units
  • 2) Calculate the due interest generated by a principal of S = 400 units in m = 5 months if the simple flat interest rate of p% = 4.5%.
    Answer:
    I = (S × p% × m) ÷ 12 = (400 × 4.5% × 5) ÷ 12 = (400 × 4.5 ÷ 100 × 5) ÷ 12 = 18 × 5 ÷ 12 = 15 ÷ 2 = 7.5 units.