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How do you find the simple interest of a bank account? - Answers

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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How do you find the simple interest of a bank account? - Answers

https://math.answers.com/math-and-arithmetic/How_do_you_find_the_simple_interest_of_a_bank_account

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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https://math.answers.com/math-and-arithmetic/How_do_you_find_the_simple_interest_of_a_bank_account

How do you find the simple interest of a bank account? - Answers

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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      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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