Contributions to the annual Grayson School fund raising campaign were 10% greater in 2004 that they were in 2003. In 2003, contributions were 15% greater than they were in 2002. If contributions for 2004 total $8855, what was the total in 2002? (remember to put your answer in dollars and cents)

Answer 1

Let n be the amount contributed in 2002. In 2003, the contributions were 15% greater, or 1.15n. In 2004, the contributions were 10% greater than that, or 1.1(1.15)n. So:
1.265n=8855
n=7000
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