Question 1195149
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Rock puts $1000 in the bank for two years at 10% interest compounded annually. 
At the end of the two years, what will be her balance?
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            @MathLover1 read, interpreted and solved the problem incorrectly,

            giving wrong answer.



<pre>
As written, the text means that the interest is 10% annually, compounded annually.


So, after one year, the amount at the account is  1.1*1000 = 1100 dollars, after fisrt compounding.


After two years, the amount at the account is  {{{1.1^2*1000}}} = 1.21*1000 = 1210 dollars, after second compounding.


<U>ANSWER</U>. After two years, the balance will be 1210 dollars.
</pre>

Solved.


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To see many other similar &nbsp;(and different) &nbsp;solved problems on compounded interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compounded interest percentage problems</A> 

in this site.



Learn the subject from there.