Complete question :
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 6.25% interest compounded annually and plans not to use any of it until he retires. a. Write an equation that represents the amount of money Dusty will have in n years. b. How much money will be in the account when he retires in 23 years?
Answer:
A = 125000(1.0625)^n ;
$504052.30
Step-by-step explanation:
Going by the compound interest formula :
A = P(1 + r/n)^nt
Here, P = amount won ; A = final amount ; r = interest rate = 6.25% = 0.0625 ; n = 1 ; t = number of years
Hence, the amojt of money, A Dusty will. Have in n years ;
A = 125000(1 + 0.0625)^n
A = 125000(1.0625)^n
Amount he'll have in 23 years
n = 23
A = 125000(1.0625)^23
A = 125000 * 4.03241
A = $504052.30
The base of the exponential function is 3.
<h3>How to identify the base?</h3>
Here we have the graph of an exponential function of the form:
f(x) = b^x
We want to find the value of b.
Remember that any number with an exponent of 1 is equal to the number:
a^1 = a
Then, we will have:
f(1) = b^1 = b
If you look at the graph, you can see that when x = 1, the function is equal to 3.
Then:
f(1) = 3 = b
From this, we can conclude that the base is equal to 3.
If you want to learn more about exponential functions, you can read:
brainly.com/question/11464095
Answer:
Part 1:
$4.50 a months
12 months in a year
$4.50 * 12 months = $54 dollars a year
Part 2:
Mr.Simon would record this transcation as a " - " because the maintenances fees deducts from this saving account.
hi
you have twi points A ( X;Y) and B ( X ; Y)
slope is : ( Yb -Ya) / (Xb -Xa )
so : ( 5-6 ) /( -7- 5) = -1 /-12 = 1/12