Total amount of money donated from 2010 to 2013
Economics
ScanSolve AI Answer
Step-by-step solution
3 stepsLet's calculate the total donation.
Calculate the donation for each year from 2010 to 2013.
We know the donation in 2010 was $700,000. The annual increase is 8%.
- 2010: $700,000
- 2011: 700,000 × 1.08 = $756,000
- 2012: 816,480 (as calculated previously)
- 2013: 881,798.40
Sum the donations for all four years.
Total Donation = Donation(2010) + Donation(2011) + Donation(2012) + Donation(2013)
Total Donation = 756,000 + 881,798.40Perform the addition.
Total Donation = $3,154,278.40
The total amount of money donated from 2010 to 2013 is $3,154,278.40.
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