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.
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases at a rate of 4% per year then about how many years will it take for GDP per capita to equal $20,000? 35
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)
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According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 2% instead of 3%, it will take for that country to double its level of real GDP per capita. 30 additional years 11.7 additional years 35 fewer years 30 fewer years 35 additional years 23.3 additional years 23.3 fewer years 11.7 fewer years
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