Question 40879
one thousand dollars in a savings account = p =1000
interest per year=R=9%
N=1
The interest earned after the first year = PNR/100
= 1000*1*9/100= 90
When this is added to the account the new p =1090
interest earned on the new principle the following year = 1090*1*9/100
=98.10 
You get 98 dollars & 10 cents as interest for the new principal.