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About Future Value Simple Interest Formula
Let's start by understanding what the future value simple interest formula signifies. Future value at the end of the period refers to the final amount of money lent or the total amount at the conclusion of the time. The future value simple interest formula calculates the future value of simple interest after the period ends.
The addition of the principal amount at the start and the interest collected on that principal amount at the end of the period is the future value simple interest formula. The Simple Interest Formula for Future Value is as follows:
FV = P + I or F V = P(1 + rt)
Here,
- P is the principal amount,
- I is the interest,
- r is the rate, and
- t is the time.
Get the list of all Maths formulas used in general calculations.
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