Answer:
This is the concept of geometric series. We are required to find the recursive formula for year n. Here we will use the formula;
nth=ar^(n-1)
where;
a=first term
r=common ratio
n=nth term
Thus
a=8.50
r=(8.85)/(8.50)=1.0412
thus the formula will be:
nth=8.50(1.0412)^n
