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What are the differences in image formats (bmp, jpg, tif, etc.)?

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What are the differences in image formats (bmp, jpg, tif, etc.)?

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JPG (or JPEG) files are the most frequently encountered file types. JPG images are compressed files for easier storage. TIF and BMP are uncompressed file types. These are best used for files that will be opened and re-saved frequently so that there will not be a cumulative effect of compression on the image.

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