Answer:
Year 1: $1,100
Year 2: $ 1,210
Step-by-step explanation:
The given expresion is:
[tex]1000(1.1)^{t} [/tex]
This represents the value of a $1000 investment that earns 10% interest per year, compounded annually for 2 years.
To find the value of a $1000 investment at the end of the first year , we substitute t=1.
[tex]1000(1.1)^{1} = 1100 \: dollars[/tex]
To find the value of a $1000 investment at the end of the second year , we substitute t=2.
[tex]1000( {1.1)}^{2} = 1210 \: dollars[/tex]
