Question

SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question

solve the problem

attached photo

Answer 1

I cant see the photo cause of the format of it otherwise I would help you. It’s because of the bad phone I have you need different format.

Answer 2

The size of the federal debt in 20 years, assuming a 3% annual increase, would be approximately $30.70 trillion.

To determine the size of the federal debt in 20 years, we can use the formula for compound interest.

The formula for compound interest is:
`A = P(1 + r/n)^(nt)`

Where:
A = the future value of the debt
P = the present value of the debt (current size of the debt)
r = the annual interest rate (3% in this case)
n = the number of times interest is compounded per year (assume it's compounded annually, so n = 1)
t = the number of years (20 in this case)

Plugging in the values into the formula, we get:


`A = $17 trillion * (1 + 0.03/1)^(1*20)\\`
Simplifying the equation, we have:

A = $17 trillion *
`(1.03)^(20)`

Calculating the expression inside the parentheses, we get:

A = $17 trillion *
`(1.03)^(20)`

Using a calculator, we find that (1.03)^20 is approximately 1.8061.

Therefore, the size of the federal debt in 20 years would be:

A = $17 trillion * 1.8061

Calculating the result, we get:

A ≈ $30.70 trillion