Answer: she have $22.05 in 2 years
Explanation:
We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 20
r = 5% = 5/100 = 0.05
n = 1 because it was compounded once in a year.
t = 2 years
Therefore,
A = 20(1+0.05/1)^1 × 2
A = 20(1.05)^2
A = 22.05