Two years ago, John put $5,000 into a savings account. At the end of the first year, his account had accrued $500 in interest bringing his total balance to $5,500. The next year, his account balance increased by 10%. At the end of the two years, by what percent has John's account balance increased from his initial deposit of $5,000 ?
Choose the correct choice from the following choices:
A) 19%	B) 21%	C) 20%	D) 22%	E) 25%
investment 5000 dollars   1 st year total gained = 500   total amount end of first year = 5500   second year account increased by 10 % = 5500*0.1= 
<gadget id="calculator">5500*0.1</gadget>
<output>550</output>
550   therefore total amount by second year end= 6050   so total percentage increase in money = (6050-5000)*100/5000= 
<gadget id="calculator">(6050-5000)*100/5000</gadget>
<output>21</output>
21 %   Correct Answer 21%=21%
<result>B</result>
Two years ago, John put $5,000 into a savings account. At the end of the first year, his account had accrued $500 in interest bringing his total balance to $5,500. The next year, his account balance increased by 10%. At the end of the two years, by what percent has John's account balance increased from his initial deposit of $5,000 ?