The government has decided on a tax rebate program to stimulate the economy. Suppose that you receive $700 and you spend 70% of this, and each person who receives what you spend in turn spend 70% of what they receive, and this process continues indefinitely. What is the total amount spent (to the nearest dollar) that results from this government action? Total amount spent =

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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The government has decided on a tax rebate program to stimulate the economy. Suppose that you receive $700 and you spend 70% of this, and each person who
receives what you spend in turn spend 70% of what they receive, and this process continues indefinitely. What is the total amount spent (to the nearest dollar) that
results from this government action?
Total amount spent =
Transcribed Image Text:The government has decided on a tax rebate program to stimulate the economy. Suppose that you receive $700 and you spend 70% of this, and each person who receives what you spend in turn spend 70% of what they receive, and this process continues indefinitely. What is the total amount spent (to the nearest dollar) that results from this government action? Total amount spent =
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