Solve the Problem. -Rafael Received an Inheritance of $27,000. He Saves $13,700 and Saves

Multiple Choice

Solve the problem.
-Rafael received an inheritance of $27,000. He saves $13,700 and then spends $13,300 of the money on college tuition, books, and living expenses for school. If the money is respent over and over
Again in the community an infinite number of times, at a rate of 62%, determine the total amount
Spent.

A) $21,452
B) $43,548
C) $35,000
D) $71,053