Compound interest: $1,000 at 5% compounded annually for 2 years. What is the total? A $1,100 B $1,102.50 C $1,050 D $1,105 ✓ Correct Answer: Option B A = P(1+r)^t = 1000(1.05)² = 1000(1.1025) = $1,102.50. Practice SAT Exam Prep Quizzes → Browse All Questions Study Flashcards