Question

How much money will $9800 be worth in two years if the money is deposited at 5 percent interest compounded annually

Answer 1

original amount = 9800
after one year = 9800(1.05) = 10290
after 2nd year = 10290(1.05) = 10804.5

Answer 2

$9800+5%($9800)+5%($9800)
$9800+10%($9800)
$9800+$980
$10,780