Geometric Sequences and Series · Exercise 57

Solve the problem.

Find the total effect on the economy of each government tax rebate to each household in order to stimulate the economy if each household will spend the indicated percent of the rebate in goods and services.

\begin{array}{|c|c|c|c|}\hline & \text{Tax rebate to each household} & \text{Percent spent on goods and services} & \text{Total Effect on the economy} \\ \hline \text{ⓐ} & \\text{ 1,000$} & 85 \% & \\ \hline \text{ⓑ} & \\text{ 1,000$} & 75 \% & \\ \hline \text{ⓒ} & \\text{ 1,500$} & 90 \% & \\ \hline \text{ⓓ} & \\text{ 1,500$} & 80 \% & \\ \hline\end{array}

OpenStax, Intermediate Algebra 2e · §12.3 Geometric Sequences and Series · Exercise 57