Sum of the geometric sequence

Reference no: EM1319558

Because of reduced taxes, an individual has an extra $600 in spendable income. If we assume that the individual spends 70% of these on consumer goods, that the producers of these goods in turn spend 70% of what they receive on consumer goods, and that this process continues indefinitely, what is the total amount spent on consumer goods?

Reference no: EM1319558

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Sum of the geometric sequence : What is the total amount spent on consumer goods?

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