Question

In 2009, per capita GDP in developed economies was on average 3.6 times as large as in developing economies. If per capita growth maintained the same rates as between 2000 and 2009, it would take about 30 years for developing counties to catch up to the developed world. If per capita growth slows to 4.2% in developing countries and remains at 3.1% in developed countries, how many years would it take developing economies to catch up to developed economies? (Round to the nearest year)

Answer 1