Advanced Math practice question

Answer: 2205

Each year multiplies the balance by 1.05: 2,000 × 1.05 × 1.05 = 2,000 × 1.1025 = 2,205.

Common wrong answers

If you answered 2100

2,100 is the balance after ONE year.

If you answered 2200

2,200 adds 5% of the ORIGINAL twice (100 + 100). In the second year, 5% is taken of 2,100, giving 105.

If you answered 2210

2,210 is 2,000 × 1.105, treating two years of 5% as a flat 10.5%; the correct factor is 1.05² = 1.1025.

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