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Q:Question:A bank made a farmer a loan of $1,000 at 14% for three years compounded annually. Find the future value and the compound interest paid

Q:Question:A bank made a farmer a loan of $1,000 at 14% for three years compounded annually. Find the future value and the compound interest paid on the loan. Compare the compound interest with simple interest for the same period. future value =$ Thus, the compound interest is approximate ____ more than the simple interest.

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