Question

Cassie opened a savings account and deposited $100.00 as principal. The account earns 9% interest, compounded annually. What is the balance after 2 years?

Answer 1

$118.81

Explanation:

you would plug in the values to the formula to get

100(1+.09)^2

.09 represent 9% and 2 represent the years

it would then come out to $118.81