The magicsoft software company has a proposal to the city council of alva, florida, to relocate there. the proposal claims that the
company will generate $3.3 million for the local economy by the $1 million in salaries that will be paid. the city council estimates
that 70% of the salaries will be spent in the local community and 70% of that money will again be spent in the community, and so on.
what is the correct estimate of the amount generated to the local economy?
a. $3.3 million
c. $2.7 million
b. $2.3 million
d. $1.9 million
select the best answer from the choices provided