The annual spending by tourists in a resort city is 900 million dollars. Approximately 75% of that revenue is again spent in the resort city, and of that amount approximately 75% is again spent in the resort city. If this pattern continues, write the geometric series that gives the total amount of spending generated by the 900 million dollars (including the initial outlay of 900 million dollars) and find the sum of the series.
A. The geometric series is .
The sum of the series is $3600 million.
B. The geometric series is
The sum of the series is $67,500 million.
C. The geometric series is
The sum of the series is 3600 million.
D. The geometric series is
The sum of the series is $67,500 million.
E. The geometric series is
The sum of the series is $675 million.
Answer: C
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