Question

If GDP is $15 trillion, how many years will it take for GDP to increase to $30 trillion if annual growth is 2 percent

Answer 1

Answer:35 years

Step-by-step explanation:

I checked the work on connect

Answer 2

y = original value • growth ^(time/period of growth)

30000000000000 = 15000000000000 • (1+0.02)^(x/1)

Divide both sides by 15 trillion

2 = (1.02)^(x)

take logarithm of both sides

log2 = log1.02^x

Bring x down using log law

log2 = xlog1.02

Divide both sides by log1.02

x = 35

35 years