Im trying to figure out an equation for a problem. I start with a base number of 1.02 but would like to raise it 2%, each time by the previous 2% up to 19 additional times from the start. So the third one would be (1.02x1.02)1.02. Would it just be (1.02x1.02)1.02^18.
I realized this is a horrible example as its 1.02^19. I was wondering how it would work if it was like 1.5 and i wanted to raise it 2% and then 2% more by the previous outcome. I'm the original poster.