Use the formula for the sum of an infinite geometric series to solve Exercises 9395.A

Chapter 11, Problem 93

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Use the formula for the sum of an infinite geometric series to solve Exercises 9395.A new factory in a small town has an annual payroll of$6 million. It is expected that 60% of this money will bespent in the town by factory personnel. The people in thetown who receive this money are expected to spend 60%of what they receive in the town, and so on. What is thetotal of all this spending, called the total economic impactof the factory, on the town each year?

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