School fees for a popular high school have been increasing by 9.5% per year. When Antoinette started the school, the annual fees were $6230. By the time Antoinette leaves the school 8 years later, how much have her parents paid in school fees in total? Give your answer to the nearest $100.

Antoinette's parents paid $ 70000 by the time she left the school.

Step-by-step explanation:

Antoinette's parents paid at the beginning () $ 6230, and each year paid annual fees including increases seven times. () We find that annual fee paid at a given year is represented by the following formula:

Where:

- Initial annual fees, measured in US dollars.

- Current annual fees, measured in US dollars.

- Yearly increase rate, dimensionless.

If we know that and , first 8 annual fees paid by Antoinette's parents are:

Now, we sum each yearly fees to determine the total paid by Antoinette's parents when she leaves the school at the end of the 8th year.

Antoinette's parents paid $ 70000 by the time she left the school.

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