Answer:
D. Graph 4 In an account with 250$ balance that accrues 2% annually, with no deposits or withdrawals, it takes 6 years and 6 months for the balance to be 282$
Explanation:
if the balance accrues 2% annually, then that means every year the amount increases by 100% + 2% = 102%
102%= 102/100 = 1.02
if we multiply the balance in the account with 102% or by 1.02 at the beginning of each year we will get the amount accrued at the end of the year
First year: $250 x 1.02 = $260.1
Second year: 260.1 x 1.02 = $265.302
Third year: 265.302 x 1.02 = $270.60802
we can use these points to create a graph that will help us estimate at what year the amount will be 282$