2022 SGSS AM S4 P1 Q2 (b)

The value of an antique is estimated to increase by \(k\)% per year. Given that its value at the beginning of \(2017\) was \(\$20\ 000\). The value \(V\), after \(t\) years, can be modelled by \(V = A(1.11)^t\).

1. State the value of \(A\) and of \(k\).[2]
2. Calculate the year when its estimated value will first reach \(\$190\ 000\).[2]