Answer:
Step-by-step explanation:
The formula for determining the sum of n terms, Sn of a geometric sequence is expressed as
Sn = [a(r^n) - 1)]/(r - 1)
Where
n represents the number of term in the sequence.
a represents the first term in the sequence.
r represents the common ratio.
From the information given,
a = $33000
r = 1 + 4/100 = 1.04
Therefore, the formula, Sn, for Alexa's total earnings over n years.
Sn = [33000(1.04^n) - 1)]/1.04 - 1
Sn = [3300(1.04^n) - 1)]/0.04
Alexa's total earnings for her first 15 years of teaching would be
S15 = [33000(1.04^15 - 1)]/0.04
S15 = $660778.4 to the nearest cent
