- wapam what you do and snow all calculations. 1) How long will it take for...

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Answer 1

Answer #1

We know it takes about 72/growth rate to double the GDP

When growth rate is 3% for every six months then interest rate per annum=(1.03)²-1=0.0609=6.09%

Thus number of years=72/6.09=11.82 years

Thus number of years to double the amount from $12000 to $24000 is 12years

Answer 2

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