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The government, through a subsidy program, distributes
The total increase in spending will be approximately
(Round to the nearest dollar as needed)
Final Answer: The total increase in spending will be approximately
Step 1 :The government, through a subsidy program, distributes $23,000,000.
Step 2 :Each person or agency spends 45% of what is received, and 45% of this is spent, and so on.
Step 3 :This forms a geometric series where the first term (a) is
Step 4 :We can find the total increase in spending by using the formula for the sum of an infinite geometric series,
Step 5 :Substituting the values, we get
Step 6 :Solving this gives us
Step 7 :Rounding to the nearest dollar, the total increase in spending will be approximately
Step 8 :Final Answer: The total increase in spending will be approximately