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slavikrds [6]
3 years ago
9

Felix has $50 in a savings account that earns 5% interest, compounded annually. To the nearest cent, how much interest will he e

arn in 2 years?
Mathematics
1 answer:
qwelly [4]3 years ago
8 0

Answer:

$55.13

Step-by-step explanation:

50 * 1.05 = 52.5

<em>We do this step twice because the interest is for </em><em>2 years.</em>

52.5 * 1.05 = 55.125

<em>This rounds up to 55.13, your final answer!</em>

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