You did not give enough infromation but I think you mean this:Originally Posted by aussiekid90
1)You started with $40,000.
2)Ended with $60,000.
3)The number of times of interest a year is 12 times.
4)Solved for rate of interest.
I got the rate of interest to be 1.014% not what you say.
For the second part of the problem I get $900,000 exactly.