Answer :
[tex]100*0.05=5[/tex] <-- interest earned per year
[tex]100+5=105[/tex] <-- at the end of one year
[tex]105 + 5=110[/tex] <-- at the end of two years
His balance will be $110.
[tex]100+5=105[/tex] <-- at the end of one year
[tex]105 + 5=110[/tex] <-- at the end of two years
His balance will be $110.