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?

Question

10-03-2014
Mathematics

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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?

Sagot :

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iloveonedirection iloveonedirection · Answer 1 · 2014-07-25T14:14:04-04:00

iloveonedirection iloveonedirection

25-07-2014

[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.

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UnicornCatGirl UnicornCatGirl · Answer 2 · 2020-02-05T16:03:20-05:00

UnicornCatGirl UnicornCatGirl

05-02-2020

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

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