Stanley puts $100 in the bank for two years at 5 % interest compounded annually. At

the end of the two years, what is his balance?

Verified Answer :

\(100*0.05=5\) <-- interest earned per year

\(100+5=105\) <-- at the end of one year

\(105 + 5=110\) <-- at the end of two years

His balance will be $110.

The answer is $110. Hope I could help! :D