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Solve: compound interest P=4500 r=6% n=1 t=3 — Detailed Solution | AhaStep

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📐 MathLevel 3 — 🟢 Basicfinancial_math👁 21 views⏱ 1 min read

Solve: compound interest P=4500 r=6% n=1 t=3

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compound interest P=4500 r=6% n=1 t=3

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1. Given: t = 3 yearsn = 1 (times/year)$

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2. Compound interest formula: )^(n·t)

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3. Calculate:

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= 4500 × (53/50)^3

🔒 5 steps remaining