Question

One year, a group of doctors held a fundraiser and sent $35,885 to a clinic in need of support. Each year after that, the doctors sent another $2500

After how many years will the total amount sent by the doctors first exceed $250,000?

Answer 1

86 years after the $35,885 donation is made

Explanation:

Let n be the total number of years.

Each year they sent $2500, so in n year they send 2500n dollars.

They sent $35,885 to start with, so after n years, they will have sent a total of

2500n + 35,885

We need to find the value of n for which 2500n + 35,885 exceeds $250,000.

2500n + 35,885 > 250,000

2500n > 214,115

n > 214,115/2500

n > 85.6

The first year after 85.6 years have passed is year 86.