The graph shows the total amount of an investment account with a principal of $1,500 which increases 1.5 times every 10 years. Use the graph to estimate the total amount of the account if $1,500 is invested for 32 years. (1 point) Responses $7,800 $7,800 $5,000 $5,000 $6,200 $6,200 $5,500
Based on the graph, the account value increases at a rate of 1.5 times every 10 years.
After 10 years, the account value would be 1.5 times $1,500 = $2,250.
After another 10 years (20 years in total), the account value would be 1.5 times $2,250 = $3,375.
After another 10 years (30 years in total), the account value would be 1.5 times $3,375 = $5,062.50.
After an additional 2 years (32 years in total), the account value can be estimated to be a little higher than $5,062.50 but less than $6,200.
Hence, the best estimate for the total amount of the account after 32 years is $5,500.