Register
Find the interest rate needed for an investment of $9,000 to grow to an amount of $13,500 in 8 years if interest is compounded monthly. (Round your answer to the nearest hundredth of a percentage point.
227k views
1 vote
Find the interest rate needed for an investment of $9,000 to grow to an amount of $13,500 in 8 years if interest is compounded monthly. (Round your answer to the nearest hundredth of a percentage point.)

User Jinna
by
8.0k points

1 Answer

3 votes
The interest rate would end up being 3000. Three times three equals 9 so that would make sense for it to equal 9000.
User Nicolai Lissau
by
8.1k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!