Question

Peter invested $9,000 in a program that compounded monthly
and after 6 years he had $15,000. What was the interest rate?

Answer 1

do u know the formula of compound interest

Answer 2

yes

Answer 3

im doing something wrong tho i dont know whAT

Answer 4

ok ok wait

Answer 5

?

Answer 6

see here i would directly solve this by putting the values given

Answer 7

ok could you work this out plz so i can see

Answer 8

given that time is 6 years and principal is $9,000

Answer 9

and also Amount is given $15,000

Answer 10

15000=9000(1+r/12)^72

Answer 11

yes yes right

Answer 12

6000=(1+r/12)^72

Answer 13

now after this what?

Answer 14

wait u r going wrong it should not be r/12 it should be r/1200 and then n would be 6

Answer 15

6000=(1+r/1200)^6??

Answer 16

yes now do it

Answer 17

how u get 1200

Answer 18

way to big of number that cant be right