Question

Mr.perkins has $120 in a savings account .the interest rate is 5% per year and it is not compounded how much will he have in 2 years

Answer 1

in two years it shld he around 132.5. I think I’m not too sure

Answer 2

The answer is $132

Explanation:

120+ (5% of 120) (2)

120+(6)(2)

120+12

=132