Ok so compound interst formula is
where
F=future amount
A=present amount
c=percent interest in decimal form
n=number of times compoounded per year
t=times in years
A= present amount=100
c=2%=0.02
n=1 since once per year
t=t
so
F=100(1+(0.02)/1)^(1t)
F=100(1+0.02)^t
F=100(1.02)^t
x=1.02
where
F=future amount
A=present amount
c=percent interest in decimal form
n=number of times compoounded per year
t=times in years
A= present amount=100
c=2%=0.02
n=1 since once per year
t=t
so
F=100(1+(0.02)/1)^(1t)
F=100(1+0.02)^t
F=100(1.02)^t
x=1.02