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How can you create an RDS instance using CloudFormation?

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Example CloudFormation template:

Resources:
  MyDBInstance:
    Type: AWS::RDS::DBInstance
    Properties:
      DBInstanceClass: db.t2.micro
      Engine: MySQL
      EngineVersion: '5.7'
      MasterUsername: admin
      MasterUserPassword: myPassword123
      AllocatedStorage: 20
      DBInstanceIdentifier: mydbinstance
      DBName: mydatabase

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