Question

Stanley deposits $1,000 into a savings account that pays 1% interest for a year at the end of the first year he's earned $10 in interest and there is $1,010 in the account. if the account has simple interest the 1% interest you or two would be based off of what if the account has corresponding interest to 1% interest year at 2 would be based off of what?

Answer 1

`\text{The first option is correct.}`