Suppose That $500,000 of Counterfeit Money Is Currently in Circulation

Multiple Choice

Suppose that $500,000 of counterfeit money is currently in circulation and that each time the counterfeit money is used, 35% of it is detected and removed from circulation. How much counterfeit money, to the nearest thousand dollars, is used in transactions before all of it is removed from circulation?

A) $769,000
B) $1,346,000
C) $1,154,000
D) $705,000
E) $1,410,000