ItsbeenAgatha
ItsbeenAgatha ItsbeenAgatha
  • 02-11-2021
  • Mathematics
contestada

A bank made a farmer a loan of $1,400 at 15% for three years compounded annually. Find the future value and the compound interest paid on the loan. Compare the compound interest with simple interest for the same period?

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2027177
2027177 2027177
  • 02-11-2021

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

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