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Bogdan [553]
3 years ago
8

Suppose a country's annual growth rate of real gdp per capita is approximately 2%. by which year would the country double its re

al gdp per capita from $10,000 in 1950 to $20,000?
a.1970
b.1985
c.2000
d.2005
Business
1 answer:
pantera1 [17]3 years ago
7 0
It should be 1986, but for the sake of the options it's most likely 1985. You just have to do trial and error. So 10,000 × 1.02^t (where t is the time in years). I've got 1.02 because it's a 2% increase from 100% (Basically decimal form).
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