Question

Ted work $80.000 on the Who Wants to be a Zillionaire? game show. He decides to place the money into an account that earns 7% interest. How much money will he have in 25 years ?

Answer 1

220 000 $ is the total amount of money he will have after 7 years.

Explanation:

1). 7 % = 0.07 * 80 000 per year.

2). 0.07 * 80 000 = 5 600 $ - earned in one year.

3). 5 600 * 25 = 140 000 $ - earned in 25 years.

4). 140 000 + 80 000 = 220 000 $ - The total amount of money.