Answer:
$10.50
Step-by-step explanation:
Interest = future value - amount saved
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$50 x (1.1)^2 = $60.50
Interest = $60.50 - $50 = $10.50
