I have the series: $3 + \frac{3}{2} + \frac{3}{4} + \frac{3}{8}$,
I need to calculate the exact value of it. I have found that the equation of this is $a_n = 3(\frac{1}{2})^{n-1}$, but I am not sure how to progress from here. Would guess that I need to convert it to sigma notation but I am not totally sure.
You have the terms right: you're sum is $$\sum_{n=1}^\infty 3\left(\frac{1}{2}\right)^{n-1}=3\sum_{n=0}^\infty\left(\frac{1}{2}\right)^n$$ Now recall the geometric series formula is $$\sum_{n=0}^\infty x^n=\frac{1}{1-x}\qquad |x|<1$$ So what is $x$ in your case?