Question

Select the correct answer from each drop-down menu.

Jordan deposits $2,000 in his bank account and earns a compound interest of 10 percent. What will the balance in his account be at the end of two years?

While calculating compound interest, the interest income---1---
each year. So, Jordan’s account balance at the end of two years will be --2--.
1.increases\decreases\stays the same
2.$2,200\$2,400\$2,420

Answer 1

1- increase 2- 2,400