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oksano4ka [1.4K]
2 years ago
7

Per

Mathematics
1 answer:
MA_775_DIABLO [31]2 years ago
4 0

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

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