Question

10$ with 5% interest compounded annually for 2 years

Answer 1

Answer:

$11.03.

Step-by-step explanation:

5 % = 0.05.

The amount after 2 years

= 10(1 + 0.05)^2

= $11.03.

Answer 2

Answer:

$11.03

Step-by-step explanation:

The future value should be $11.03

In your equation, the p value should be 10, r/n should be .05, nt should be 2,

Then perform your equations within this equation: $A = P(1 +\frac{r}{n}) ^2$

and a is equal to 11.03