Dusty won $125,000 on the Who Wants to be a Zillionaire? game show. He decides to place the money into an account that earns 6.2

Question

3 years ago

7

Dusty won $125,000 on the Who Wants to be a Zillionaire? game show. He decides to place the money into an account that earns 6.2

5% interest compounded annually and plans not to use any of it until he retires.
I don't get number a for this question: Write an expression that represents how much money Dusty will have in t years.

Can somebody help me, if that works, that would be great!

Middle School Student:

Jina Wang

Mathematics

2 answers:

Readme [11.4K] · Answer 1 · 2022-04-29T21:52:07+03:00

Readme [11.4K]3 years ago

4 0

(125,000 × 0.0625 × t) + 125,000

sesenic [268] · Answer 2 · 2022-04-29T20:51:53+03:00

sesenic [268]3 years ago

3 0

Okay these are annoying, but all you need to know is the formula or expression. A=P(1+r/n)^nt so all you need to do is plug in the numbers :)

A= amount
P=$125,000
R=.0625
N=12 (annually)

So now just solve for t