Question

Maria invests $8,000 in a bank account, which pays 9% annual interest, compounded yearly. What will be Maria's account balance at the end of the second year?

Answer 1

Answer:$9504.80

Explanation:

Every year, we have an increase of 9% interest. After two years, we will have 8000 * 1.09 ^2 = $9504.80

Answer 2

Her bank account will be at $9,440 and the end of the second year

Explanation: