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. Homework Help ✎
Write an equation that represents the amount of money Dusty will have in n years.
How much money will be in the account when he retires in 23 years?
Review the Math Notes box in this Lesson 5.3.2 on multipliers.
What is the multiplier you will use in the expression? Review problem 8-7 for help with the multiplier.
$504,052.30 will be in the account.