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A new factory in a small town has an annual payroll of ​$2 million. It is...

A new factory in a small town has an annual payroll of ​$2 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 infinite geometric series.

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$ 1 million spent in toun has annual A new factory pay soll of $2 million 50% of this money by factory prosonel recieve it an

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