A new factory in a small town has an annual payroll of $6
Chapter 14, Problem 14.1.309(choose chapter or problem)
A new factory in a small town has an annual payroll of $6 million. It is expected that 60% of this money will be spent in the town by factory personnel. The people in the town who receive this money are expected to spend 60% of what they receive in the town, and so on. What is the total of all this spending, called the total economic impact of the factory, on the town each year?
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