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how to calculate future value using simple interest. The ending balance or future value of an account with simple interest can be calculated using the following formula. It is the easiest type of interest to calculate and understand because its value I Prt Simple Interest Principal x Interest Rate x Time.
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Using the prior example of a 1000 account with a 10 rate after 3 years the balance would be 1300. Input 10 PV at 6 IY for 1 year N. However with a little math and some common sense anyone can quickly calculate an investments interest.
The future value factor is based on the concept of the time value of money.
The future value would be 1500. Hspace80px 30 at monthly. The quicker method however is to use the following formula. We can ignore PMT for simplicitys sake.
