According to the rule of 70, we can find out the no. of years in which a perticular sum will double by dividing 70 by the growth rate.
So, here $5,000 would bexomeibecome $10,000 in 70/5.93 = 11.80 years.
Similarly, $10,000 would become $20,000 in 70/5.93 = 11.80 years.
So, total number of years required for $5,000 to become $10,000 = 11.80 +11.80 = 23.60 years.
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases...
A country has GDP per capita equal to $5,000. If the country’s GDP per capita increases at a rate of 3.60% per year then according to the rule of 70 how many years will it take for GDP per capita to equal $20,000? Round to the nearest whole number.
QUESTION 41 10 According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%, it will take how many additional years for that country to double its level of real GDP per capita? (Show Your Work) TTT Arial • 3 (12pt) + T. Words:0 Path: P
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Question 3 2.5 pts Question 2: the rule of 70 Country A starts with real GDP per capita equal to $40,000 and Country B starts with real GDP per capita equal to $2,000. Today the RGDP per capita in A is times the value in B. Country A is growing at a rate of 3.5% per year and Country B is growing at a rate of 7% per year. Assume these growth rates do not change. Country A will double...
Need help, please show work Country A has a per capita income of $4,000 per year and Country B has a per capita income of S40.000 per year. Assume Country A's per capita income grows at a rate of 5% per year and Country B's per capita income grows at a rate of 290 per year How many times larger is Country B's income per capita today? 10 times larger How many times larger will Country B's income per capita...
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