Question

Isabella earns interest at an annual rate of 10% compounded annually on her savings account. She deposits $2,000 into her account. What is the total amount of money Isabella will have in her account after 2 years? The Interest Isabella will have in her account after 2 years is?

Answer 1

Answer:

10% of 2,000 is 200. 2000 + 200 = 2200. 10% of 2200 is 220. 2200 + 220 = 2420. Answer is 2420.

Step-by-step explanation:

She starts off with 2000. She earns 10% of 2000 the first year. 10% of 2000 is 200. Then add to get the amount of money she has at the end of that year. 2000 + 200 = 2200. Then the next year she earns 10% of 2200. 10% of 2200 is 220. Add 2200 + 220. 2200 + 220 = 2420.

Answer 2

Answer: 2420

Step-by-step explanation: