A country has GDP per capita equal to $5,000. If the country's GDP per capita increases...

Question

Question

Answer 1

Answer #1

Answer:

FV=PV*(1+i)^n
(1+i)^n = FV / PV

1.04^n = 20,000 / 5000 = 4

n * log(1.04) = log 4

n = log4 / log(1.04) = 35 year

Correct option: A] 35 years

Answer 2

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