Raymond B. answered 03/03/21
Math, microeconomics or criminal justice
A1 = 15
A2 = 15(1.04)A3 = 15(1.04)^2
...
AN = 15(1.04)^(N-1)
...
A8 = 15(1.04)^7
S8 = A1+A2+ A3 + ...AN ...+ A8 = 138.2133939
SN=A1(1-r^N)/(1-r) with r = 1.08
S8 = 15(1-(1.04)^8/(1-1.04) = 138.2133939
sum of the first 8 = 138.2133929