Step One: Calculate interest.
[tex]1150*0.09=103.5[/tex]
Step Two: Calculate the amount at the end of the first year.
[tex]1150+103.5=1253.5[/tex]
Step Three: Calculate the amount at the end of the second year. This will be your final answer.
[tex]1253.5+103.5=1357[/tex]
$1357 balance
