Final answer:
You will have an amount of $967.49 at the end of 2 years.
Step-by-step explanation:
Calculating the total amount after interest
Here's how to calculate the total amount you will have after 2 years:
Calculate the annual interest:
Annual interest = Principal amount * Interest rate
Annual interest = $877.54 * 10% = $87.75
Calculate the total interest for 2 years:
Total interest = Annual interest * Number of years
Total interest = $87.75 * 2 = $175.50
Calculate the final amount:
Final amount = Principal amount + Total interest
Final amount = $877.54 + $175.50 = $1053.04
Therefore, you will have $967.49 at the end of 2 years.