The initial value a of the sequence is 35,000, the ratio is 1.1 since every year she receives the amount of the previous year plus 10%. The number of terms m is 8.
`a=35,000`
`r=1.1`
`m=8`
The sum of the first m members is equal to `(a(1-r^m))/(1-r)`
Substitute 35,000 for a 1.1 for r and 8 for m to determine the total earnings for the first 8 years.
`(35,000(1-1.1^8))/(1-1.1)`
`=(35,000(-1.1436))/(-0.1)`
`=400,256`
Thus she earned $400,255 after 8 years.
` ` To verify, write each term of the sequence and add them together:
n=1, 35,000
n=2, 35,000*1.1=38,500
n=3, 38,500*1.1=42,350
n=4, 42,350*1.1=46,585
n=5, 46,585*1.1=51,243.50
n=6, 51,243.50*1.1=56,367
n=7, 56,367*1.1=62,004.6
n=8, 62,004.6*1.1=68,205
The sum of all of them is 400,255
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