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musickatia [10]
3 years ago
15

Using the Rule of 70, if Slowland's GDP grows at 2% per year and Speedyland's GDP grows at 5% per year, how much quicker will Sp

eedyland double its GDP compared to Slowland?
a. Speedyland will double its GDP 35 years quicker than Slowland.
b. Speedyland will double its GDP 21 years quicker than Slowland.
c. Speedyland will double its GDP 14 years quicker than Slowland.
d. Speedyland will double its GDP 3 years quicker than Slowland.
Business
1 answer:
Solnce55 [7]3 years ago
6 0

Answer:

b. Speedyland will double its GDP 21 years quicker than Slowland.

Explanation:

According to the rule of 70, it tells about the number of years to double

For Slowlands

= 70 ÷ 2

= 35

For speedyland

= 70 ÷ 5

= 14

So if we take the difference than it comes

= 35 - 14

= 21

Hence, the correct option is b and the same is to be considered

And all other options are wrong

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You need some money today and the only friend you have that has any is your ‘miserly' friend. He agrees to loan you the money yo
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Answer:

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