SOLUTION: gillian put $100 in a bank account that compounds at 4% annually. how much money does she have in 2 years?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: gillian put $100 in a bank account that compounds at 4% annually. how much money does she have in 2 years?      Log On


   

Question 542496: gillian put $100 in a bank account that compounds at 4% annually. how much money does she have in 2 years?
Answer by friesr(113) About Me  (Show Source):
You can put this solution on YOUR website!
year 1
100* 0.04 = 4
year 2
104 * 0.04 = 4.16
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104 + 4.16 = 108.16
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