## Precalculus: Concepts Through Functions, A Unit Circle Approach to Trigonometry (3rd Edition)

$\bf{True}$
The sum of the first $n$ terms of a Geometric Sequence is given by: $S_{n}=a_{1} (\dfrac{1-r^{n}}{1-r}) ; \ r\neq 0,1$ where $r$=common ratio and $a_1$= the first term. Thus, the statement is $\bf{True}$.