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Popular Word Problems >

\6148 rate 6% for 9 years annually what is the compound interest?

Solution

Solution

Interest : 4238.92

Solution steps

Translate the problem into an equation:

10386.91663 \dots = 6148 + I

Solve for

I, 10386.91663 \dots = 6148 + I : I = 4238.92

Interest : 4238.92

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