The total annual spending by tourists in a resort city is $200 million. Approximately 75% of that revenue is again spent in the resort city, and of that amount approximately 75% is again spent in the same city, and so on. Write the geometric series that gives the total amount of spending generated by the $200 million and find the sum of the series.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 23RE: Use the formula for the sum of the first ii terms of an arithmetic series to find the sum of the...
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The total annual spending by tourists in a resort city is $200 million. Approximately 75% of that revenue is again spent in the resort city, and of that amount approximately 75% is again spent in the same city, and so on. Write the geometric series that gives the total amount of spending generated by the $200 million and find the sum of the series.

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