52.4k views
5 votes
What annual growth rate is needed for a country to double its output in each of the following cases? Instructions: In parts a-c, enter your answers as whole numbers. In part d, round your answer to 1 decimal place.

a. In 7 years: 10percent
b. In 35 years: 2percent.
c. In 70 years: 1percent
d. In 140 years: 0.5percent.

User Sinek
by
8.2k points

1 Answer

5 votes

Answer:

A. 10%

B. 2%

C. 1%

D. 0.5%

Step-by-step explanation:

Using the rule of 70, which is a method for estimating an investment's doubling time. It is a way to know how quickly something will double when it's growing exponentially. Just divide 70 by the percent increase, and you get the doubling time.

Years to double = 70 ÷ Growth Rate

Therefore, getting the Growth rate; rearrange the equation

Growth Rate = 70 ÷ Years to Double.

A. In 7 years = 70÷7 = 10%

B. In 35 years = 70÷35 = 2%

C. In 70 years = 70 ÷ 70 = 1%

D. In 140 years = 70 ÷ 140 = 0.5%

User Mehmet Otkun
by
8.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories