9514 1404 393
Answer:
$7571.20
Step-by-step explanation:
Each year, the balance is multiplied by 1+4% = 1.04. After 2 years, the balance is ...
$7000 × 1.04 × 1.04 = $7571.20
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Additional comment
The repeated multiplication is usually indicated with an exponent:
$7000×1.04²
