After 1 year, the money would you have in the account will be "$1102.50".
Given:
- Present value, P = $1000
- Rate of interest, r = 10%
- Time period, n = 1 year
As we know,
→ [tex]A = P(1+\frac{r}{200} )^{2n}[/tex]
By substituting the values, we get
[tex]= 1000(1+\frac{10}{200} )^{(2\times 1)}[/tex]
[tex]= 1102.50[/tex] ($)
Thus the above alternative i.e., "option b" is right.
Learn more about compound interest here:
https://brainly.com/question/13427696
