You are saving money to buy an electric guitar. you deposit $1000 in an account that earns interest compounded annually. the expression 1000(1+r)^2 represents the balance after 2 years where r is the annual interest rate in decimal form. write a polynomial in standard form. the interest rate is 3%. what is the balance of your account after 2 years. the guitar costs $1100. do you have enough money in your account after 3 years?