Use the simple interest formula method for Exercises 7 to 10 See Examples 1 and 2 Thayer Farm Trust made farmer a loan of $1,200 at 16 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

Question: Use the simple interest formula method for Exercises 7 to 10. See Examples 1 and 2. Thayer Farm Trust made farmer a loan of $1,200

Use the simple interest formula method for Exercises 7 to 10. See Examples 1 and 2.
Thayer Farm Trust made farmer a loan of $1,200 at 16% for three years compounded annually. Find the and the paid on the loan. Compare the with simple interest for the same period?

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