A deposit of 10 000 kroner earns 5 percent interest per year, added to the account each year. How much is there after two years?

Answer and explanation

Correct answer: A. kroner

  1. Step 1: After one year the balance is . Step 2. After the second year it is . **Answer: kroner. Why not the others:** adds simple interest only, is the balance after one year, and adds a rise of 12.5 percent.

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