Question

PLEASE HELP ASAP!!! CORRECT ANSWER ONLY PLEASE!!!

Evelyn took a job that paid $100 the first week. She was guaranteed a raise of 2% each week.

How much money will she make in all over 8 weeks?



Round the answer to the nearest cent.

Answer 1

Answer: $858.25

Explanation:

The sum of a geometric sequence is:
`S_n=(a_1(1-r^n))/(1-r)\ \text{where}\ a_1\ \text{is the first term and r is the ratio}`

In the given problem,
`a_1=100` and r = 1.02

`S_8=(100(1-1.02^8))/(1-1.02)\\\\\\.\quad=(100(1-1.17165))/(-0.02)\\\\\\.\quad=-5000(-0.17165)\\\\.\quad=858.25`