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Example SAMPLE QUESTION Find the future value of the loan. Round your answer to the nearest cent. P=$100,r=4%,t=4 years EXPLANATION Formulas for Computing Simple Interest

Example SAMPLE QUESTION Find the future value of the loan. Round your answer to the nearest cent. P=$100,r=4%,t=4 years EXPLANATION Formulas for Computing Simple Interest and Future Value (1) Interest = $100 \times 4% \times 4

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