Solution-Compare the compound interest with simple interest

Compare the compound interest with simple interest

Reference no: EM131152608

A bank made a farmer a loan of $1,400 at 14% 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.

Reference no: EM131152608

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Compare the compound interest with simple interest

Reference no: EM131152608

Reference no: EM131152608

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