Question: how do I solve this A new factory in a small town has an annual payroll of $7 million. It is expected that 50% of

how do I solve this

A new factory in a small town has an annual payroll of $7 million. It is expected that 50% of this money will be spent in the town by factory personnel. The people in this town who receive this money are expected to spend 50% of what they receive in the town, and so on. What is the total of all this spending, called the total economic impact of the factory, on the town each year? Use the formula for the sum of an innite geometric series. The total economic impact of the factory is $|:| each year

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