SOLUTION: Ivan invests $70000 in a term deposit and interest is compounded monthly at a rate of 7% per annum for two years. How much interest does he earn ?

Question 1112942: Ivan invests $70000 in a term deposit and interest is compounded monthly at a rate of 7% per annum for two years. How much interest does he earn ?
Found 2 solutions by josgarithmetic, ikleyn:
Answer by josgarithmetic(39630) (Show Source): You can put this solution on YOUR website!

10486
Answer by ikleyn(52903) (Show Source): You can put this solution on YOUR website!
.

interest = . Use your calculator.

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