SOLUTION: 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

Question 1068033: 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.
Graph: https://vallejocity.owschools.com/media/g_alg01_ccss_2016/8/img_alg1u08l08_01.gif
After 12 years, Minerva's account balance should be about $100, assuming that she does not add or withdraw any money from the account.
A.) True
B.) False
C.) Cannot be determined from the information given.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
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.
Graph: https://vallejocity.owschools.com/media/g_alg01_ccss_2016/8/img_alg1u08l08_01.gif
After 12 years, Minerva's account balance should be about $100, assuming that she does not add or withdraw any money from the account.
A.) True
B.) False
C.) Cannot be determined from the information given.
------
Cannot be determined without knowing the interest rate.
Cheers,
Stan H.
-----------------
RELATED QUESTIONS
1. You deposit $500 in a savings account with 3% interest compounded annually. Whats is... (answered by lynnlo)

$2,000 is deposited in a savings account at 4% interest compounded semi-annually. Find... (answered by greenestamps,josmiceli)

A savings account with $2250 has an interest rate of 5%. If the interest is compounded... (answered by rfer)

How much more interest is earned on a $100 Series EE Savings Bond than $50 deposited in a (answered by CPhill)

. Jose deposits splits $5,000 evenly into 2 savings accounts. • Account 1 is safer... (answered by mananth)

A deposit of $5000 in a savings account reaches a balance of $5865.22 after 8 years. The... (answered by solver91311)

A deposit of $2400 in a savings account reaches a balance of $3174.03 after 7 years. The... (answered by Theo)

Leah opened a savings account and deposited $500 as principal. The account earns 7%... (answered by josgarithmetic)