Minerva starts a savings account with $50. The interest on the account balance is compounded annually. The graph below shows the account balance in terms of x ,the number of years since the account was opened.

After 12 years, Minerva's account balance should be about $100, assuming that she does not add or withdraw any money from the account.

Cannot be determined from the information given.
False
True

Question

06-07-2022
Mathematics

Answered

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Minerva starts a savings account with $50. The interest on the account balance is compounded annually. The graph below shows the account balance in terms of x ,the number of years since the account was opened.

After 12 years, Minerva's account balance should be about $100, assuming that she does not add or withdraw any money from the account.

Cannot be determined from the information given.
False
True

Sagot :

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ayoushivt ayoushivt · Answer 1 · 2022-07-08T03:23:37-04:00

Minerva's account balance will be about $100 , it is True and Option A is the correct answer.

What is meaning of Compounded annually ?

Compounded Annually means when the interest is given even on the interest accrued from the principal amount . This is done once a year.

It is given that

Principal Amount = $50

From the graph attached in the answer which was missing in the question ,

It can be confirmed that after 12 years

Minerva's account balance should be about $100.

Therefore it is True and Option A is the correct answer.

The graph missing is attached

To know more about Compounded Annually

https://brainly.com/question/24260765

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Sagot :

What is meaning of Compounded annually ?

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