To ask how much Mr. Perkins will have after 2 years is asking for the total or the "A".
Principle (P) - initial investment - $120
Interest rate (r) - 5% => 0.05
Term / time period (t) - 2 years
Interest (I) - amnt. after everything is multiplied
I = Prt
A = I + P
Interest = 120 × 0.05 × 2
Total = I + 120
Interest = $12
A = 12 + 120
A = $132
---------------------------------------------
Answers :
Interest : $12 after 2 years
Total after 2 years : $132
---------------------------------------------
I hope that helps you out!!
Any more questions, please, just ask!!
~ Zoey