Starting with 1000 dollars at 10% per year for 2 years, how do repeated growth and simple interest totals compare?

Explicación

Simple interest gives 1000 + 2 × 100 = 1200, while repeated growth gives 1000 × 1.10 × 1.10 = 1210. Repeated growth is therefore 10 dollars higher; calling them equal ignores growth on the first year's gain.