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Money Circulation Impact

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Suppose that each dollar introduced into the economy recirculates as follows:

85% of the original dollar is spent then 85% of that $.85 is spent, and so on.

Find:
The economic impact (the total amount spent) if $1,000,000 is spent.

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The solution shows how to develop the expression for a sum of a geometric series and how to apply it to this problem.

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