Question: 2. Now, let us suppose that we have the same account but the interest on the account is compound interest. We will assume that the

 2. Now, let us suppose that we have the same account

2. Now, let us suppose that we have the same account but the interest on the account is compound interest. We will assume that the compounding occurs annually. Compounding means that each year, you will add 2% of the previous year's balance to the account. This means the amount of interest will change each year. a Complete the following table of the interest earned each year and the total balance of the account at the end of the year. Number of Years (t) Interest for Current Total Balance (B) Year (in $) (Last year's balance + this year's interest) Initial Deposit N/A $1.000 + b. How is the total balance changing from year to year? c. Write an equation to model this compound interest scenario, and then use your equation to determine the amount in the account after 30 years

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