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Use the formula for the general term (the nth term) of a geometric sequence to find the indicated term of the sequence
with the given first term, a1, and common ratio, r.
-Find a11 when
Saving
Saving refers to the portion of income not spent on current expenses and set aside for future use, often placed in accounts or investments that can accumulate interest over time.
Induced Consumption
The portion of consumption that changes as a result of changes in income, with higher incomes leading to increased consumption.
Autonomous Consumption
The amount of consumption that occurs regardless of current income levels, reflecting basic spending needed to survive.
Saving
The portion of income not spent on consumption but kept aside for future use, which may be invested to generate wealth.
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