If a country's real GDP grows at 5% per year, how long will it take the real GDP to double?Group of answer choices10 years14 years20 years25 years

Question

If a country's real GDP grows at 5% per year, how long will it take the real GDP to double?Group of answer choices10 years14 years20 years25 years
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Solution 1

To answer this question, we can use the rule of 70. The rule of 70 is a way to estimate the number of years it takes for a certain variable to double. The formula is 70 divided by the growth rate.

In this case, the growth rate is 5%.

So, we calculate 70/5 = 14 years.

Therefore, it will take ap Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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