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Stanley puts $100 in the bank for two years at 5 % interest compounded annually. At
the end of the two years, what is his balance?



Answer :

iloveonedirection
[tex]100*0.05=5[/tex] <-- interest earned per year

[tex]100+5=105[/tex] <-- at the end of one year

[tex]105 + 5=110[/tex] <-- at the end of two years

His balance will be $110.
UnicornCatGirl

The answer is $110. Hope I could help! :D

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