Can you please assist me with explaining step by step how to receive the answer?
Suppose Latoya places $3flflfl in an account that pays 12% interest compounded each year.Assume that no withdrawals are made from the account. Follow the instructions below. Do not do any rounding. {a} Find the amount in the account at the end of 1 year. $D {b} Find the amount in the account at the end of 2 years. ED