Liam puts $2,000 in the bank with a 3% annual interest rate compounded annually. If Liam does not touch his money, how much money will he have after two years?

Answer 1

After the first year, Liam will have $2,000 + (3/100)($2,000) = $2000 + $60 = $<<2000+60=2060>>2060 in the bank.
After the second year, Liam will have $2060 + (3/100)($2060) = $2060 + $61.80 = $<<2060+61.80=2121.80>>2121.80 in the bank. Answer: \boxed{2121.80}.