Answer: $858.25
Step-by-step explanation:
The sum of a geometric sequence is: [tex]S_n=\dfrac{a_1(1-r^n)}{1-r}\ \text{where}\ a_1\ \text{is the first term and r is the ratio}[/tex]
In the given problem, [tex]a_1=100[/tex] and r = 1.02
[tex]S_8=\dfrac{100(1-1.02^8)}{1-1.02}\\\\\\.\quad=\dfrac{100(1-1.17165)}{-0.02}\\\\\\.\quad=-5000(-0.17165)\\\\.\quad=858.25[/tex]
