Simple Interest Example Assume that you deposit $1,000 in an account earning 7 simple interest for 2 years. What is the accumulated interest at the end of the 2nd year? s|=P0((n) =$1,000(07)(2) =$140 3-73-7 SI = P0 (i)(n) = $1,000(.07)(2) = $140 Simple Interest Example Assume that you deposit $1,000 in an account earning 7% simple interest for 2 years. What is the accumulated interest at the end of the 2nd year?