Write an Expression for the Nth Term of the Geometric $a _ { 1 } = 2500 , r = 1.005 , n = 60$

question 258

Multiple Choice

Write an expression for the nth term of the geometric sequence.Then find the indicated term.(Round your answer to three decimal places.) $a _ { 1 } = 2500 , r = 1.005 , n = 60$

• A) \(a _ { n } = ( 1.005 ) ^ { n - 1 }\) , About 3355.349
• B) \(a _ { n } = 2500 ( 1.005 ) ^ { n - 1 }\) , About 3355.349
• C) \(a _ { n } = 2500 ( 1.005 ) ^ { n - 1 }\) , About 5520.099
• D) \(a _ { n } = ( 1.005 ) ^ { n + 1 }\) , About 3355.349
• E) \(a _ { n } = 2500 ( 1.005 ) ^ { n + 1 }\) , About 3355.349

Be able to interpret and analyze shifts in demand curves resulting from changes in prices, incomes, or other factors.

Ability to construct and interpret Engel curves for different types of goods based on consumer income and quantity demanded.

Comprehend the implications of goods being classified as normal goods or inferior goods on consumer purchasing behavior.

Understand elasticity of demand and its impact on consumer spending and seller's revenue.