Using the compound interest formula, the amount of money in the man's bank account in the second year is $100352
<u>The compound interest relationship is computed using the relation</u> :
- Final amount = P(1 + r)^t
- <em>P = principal ; r = interest rate ; </em><em>t</em><em> = period </em>
<u>Plugging the values into the formula</u> :
Final amount = 80000(1 + 12%)²
Final amount = 80000(1 + 0.12)²
Final amount = 80000(1.12)²
Final amount = $100352
Therefore, the final amount in the second year is $100352
Learn more : brainly.com/question/18112348
