The answer to this question is :
Amount won from the scratch-off lottery ticket : $50,000
Here, we know that we have a particular amount. Now, this money is saved into an account which gives 6% interest per year. That is, per year it will give an increment of 6% of the amount deposited. So, amount after one year in bank account will be: (6% of $50,000) + $50,000
We also know that the retirement is in 45 years.
Amount in the bank after 45 years will be: [(6% of $50,000) + $50,000]*45
We can calculate it as-
Total amount in the account after 45 years will be the (6% of 50,000 * 45) + $50,000
=) 6% of $50,000 = $3,000
=) $3,000 * 45 = $135,000
Total amount after 45 years in the account =) $135,000 + $50,000
=) $185,000/-
Hence, at the time of retirement the total amount in the account will be worth $185,000.
To know further about accounting, refer : https://brainly.com/question/23271078
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