12. A business is expected to have a yearly profit of \(\pounds 275000\) for the year 2016. The profit is expected to increase by \(10 \%\) per year, so that the expected yearly profits form a geometric sequence with common ratio 1.1
- Show that the difference between the expected profit for the year 2020 and the expected profit for the year 2021 is \(\pounds 40300\) to the nearest hundred pounds.
- Find the first year for which the expected yearly profit is more than one million pounds.
- Find the total expected profits for the years 2016 to 2026 inclusive, giving your answer to the nearest hundred pounds.