Question

Question

Lila has $40 in a savings account that earns 10% interest, compounded annually.
To the nearest cent, how much interest will she earn in 2 years?

Answer 1

$40.8

Explanation:

Use the formula

n(1+percentage given/100)
`x^(of the given year)`

PS: the x means nothing just wanted to show you it is an indices

40(1+10/100)^2

40x1.01^2=$40.80