Answer:
$524,231.01
Step-by-step explanation:
use geometric series formula:
[tex]S_n=\frac{a(1-r^n)}{1-r} [/tex]
where [tex]a[/tex] is the the first term in the sequence and [tex]r[/tex] is the common ratio
Therefore, [tex]a=38000[/tex] and [tex]r=1.025[/tex]
[tex]S_{12} =\frac{38000(1-1.025^{12})}{1-1.025} =524 231.01[/tex]
