Each year the selling price of a diamond necklace increases by $$\(5 \%\)$$ of the price the year before. The selling price of the necklace in the year 2000 was $$\(\$ 36000\)$$. The company that makes the necklace only sells one each year. Find the total amount of money obtained in the ten-year period starting in the year 2000. ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................
Exam No：9709_s20_qp_11 Year：2020 Question No：3(b)
Answer:
\[
S_{10}=36000 \frac{\left(1.05^{10}-1\right)}{(1.05-1)}
\]
\(\$ 453000\)
S_{10}=36000 \frac{\left(1.05^{10}-1\right)}{(1.05-1)}
\]
\(\$ 453000\)
Knowledge points:
1.6.3 use the formulae for the nth term and for the sum of the first n terms to solve problems involving arithmetic or geometric progressions (Including knowledge that numbers a,b,c are 'in arithmetic progression' if 2 b=a+c (or equivalent) and are 'in geometric progression' if (or equivalent) (Questions may involve more than one progression.)
Solution:
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