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The formula for simple interest is

FV = PV * (1 + t*i)

Where

FV = Future Value

PV = Present Value

t = time

i = interest rate

As an example, suppose you have $100 now, the interest rate is 5%, and the time is 4 years. The future value is then

FV = $100 * (1 + (4)*(0.05)) = $100 * (1 + 0.2) = $100 * 1.2 = $120

After four years, you will have $120.

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Q: How do you find the simple interest of a bank account?
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