Find the sum of the first 5 terms of a geometric sequence where the first term (a₁) is 2 and the common ratio (r) is 3.

✓ Correct Answer: Option B

The sum of a geometric sequence is S_n = a₁(1 - rⁿ) / (1 - r). For n=5, a₁=2, r=3: S₅ = 2(1 - 3⁵) / (1 - 3) = 2(1 - 243) / (-2) = 2(-242) / (-2) = 242.