A company makes a donation to charity every year.The value of the donation increases exponentially by 10%. The value of the donation in 2010 was $10000.
a)Find the value of the donation in2016.
b)Find the total value of the donations made during the year 2010 to 2016 , Inclusive
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Answer:
1610.51 and 17715.61
Step-by-step explanation:
CI = P (1+r/100)^n
=10000*(1+10/100)^6
=10000*(1.1)^6
=17715.61
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