Term deposit accounts

Bruce wins $42000 at the races and deposits this in the Cash Credit Union for a term of 2 years. Assume he receives quarterly interest paid by cheque. Calculate the A) quarterly interest he receives B) the total interest generated. can someone please help??
Question asked by: glenroy

Asked on: 02 Sep 2008

Ok so he has $42000 and deposits it in an account for two years.

Unfortunately this is incomplete - in order to work out how much return he gets we also need to be told what the interest rate is so we can work out how his money grows!
By: knowitall
Replied at: 25 Sep 2008
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