Answer:
$25.39
Step-by-step explanation:
So if he has a 5% investment, then that means that every year he will get back 5% of the amount he invested.
So all one has to do is to find out 5% of the amount invested
Since it is asking for the amount earned in two years, then one will have to add back 5% twice
so 5% of 350
5% can be written as 0.05
so then the problem is
0.05 * 350
= 7.5
add that to the total amount and repeat the process
350 + 7.5
= 357.5
5% of 357.5
0.05 * 357.5
=17.885
because this is money one has to round to the second decimal point
= approx. 17.89
so now find the total amount earned by adding the two values
7.5 + 17.89
= 25.39
