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2 years ago

6

A bank made a farmer a loan of $1,400 at 15% for three years compounded annually. Find the future value and the compound interes

t paid on the loan. Compare the compound interest with simple interest for the same period?

1 answer:

hodyreva [135]2 years ago

7 0

Answer: The principal amount is P=$1000P=$1000. •

Step-by-step explanation:

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