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Ashley deposit $100 into a savings account. The account is 2% compounded annually. What is the balance in Ashley's account after 2 years?​

Ashley deposit $100 into a savings account. The account is 2% compounded annually. What is the balance in Ashley's account after 2 years?​
asked 98.5k views
4 votes
Ashley deposit $100 into a savings account. The account is 2% compounded annually. What is the balance in Ashley's account after 2 years?​

asked
User Gvgramazio
by
8.5k points

1 Answer

4 votes

Answer:

104.40

Explanation:

100 * 2% = 102

102 * 2% =104.4

answered
User Zouabi
by
8.0k points
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