CAIE P1 2006 June — Question 3

Exam BoardCAIE
ModuleP1 (Pure Mathematics 1)
Year2006
SessionJune
TopicGeometric Sequences and Series

3 Each year a company gives a grant to a charity. The amount given each year increases by \(5 \%\) of its value in the preceding year. The grant in 2001 was \(
) 5000$. Find
  1. the grant given in 2011,
  2. the total amount of money given to the charity during the years 2001 to 2011 inclusive.