Question

A small government decides to give a total of $W distributed equally amongst its citizens.
Every month each person saves a fraction p of their money and spends the remaining 1-p
in the community. Assume no money leaves or enters the community. Find the total amount
of money spent after n months in this pattern, and evaluate the limit as p→0 and p→1.

Answer 1

money spent after n months = n(1-p)

p→0 then n(1-p)→n
p→1 then n(1-p)→0

Answer 2

Thank you so much!!

Answer 3

my pleasure XD