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.

1. Write an expression that represents how much money Dusty will have in $t$ years.

   Hint 1(a):

   Review the Math Notes box in this lesson.

   Hint 2(a):

   What is the multiplier you will use in the expression?

2. How much money will be in the account when he retires in $23$ years?

   Answer (b):

   $$504{,}052.30$ will be in the account.