Steve puts $100 into the bank. Each year he earns 10% interest on the money in the account. How much money will be in the bank after 2 years?
How much money will be in the bank at the end of the first year? ** At the end of the first year, there will be $100 * (110/100) = $<<100*110/100=110>>110 in the bank account.
How much money will be in the bank at the end of the second year? ** At the end of the second year, there will be $110 * (110/100) = $<<110*(110/100)=121>>121
#### 121