Allie deposited $80 in a savings account earning 10% interest, compounded annually. To the nearest cent, how much will she have in 2 years?

Answer: $96.8

Step-by-step explanation:

Formular for Compounding annually:

A = P (1 + r/n) ^nt

Where p is the Principal given as $80

r is the rate given as 10% = 10/100 = 0.1

n is the number of times the principal was compounded, given as 1

t is the time, given as 2 years:

Slot the values into the formula:

A = $80 (1 + 0.1/1) ^ (1 * 2)

A = $80 (1 + 0.1) ^2

A = $80 (1.1) ^2

A = $80 (1.21)

A = $80 x 1.21

A = $96.8

96.8 is already rounded to the nearest cent.