Suppose the annual spending by tourists in a resort city is $400 million. approximately 90% of the revenue is again spent in the resort city, and of that amount aprroximately 90% is again spent in the same city and so on. Write the expression that gives the total amount of spending generated by the $400 million after n years.
Suppose the annual spending by tourists in a resort city is $400 million. approximately 90% of the revenue is again spent in the resort city, and of that amount aprroximately 90% is again spent in the same city and so on. Write the expression that gives the total amount of spending generated by the $400 million after n years.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Suppose the annual spending by tourists in a resort city is $400 million. approximately 90% of the revenue is again spent in the resort city, and of that amount aprroximately 90% is again spent in the same city and so on. Write the expression that gives the total amount of spending generated by the $400 million after n years.
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