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svetoff [14.1K]
3 years ago
10

Last year a country’s real GDP grew by 4%, it’s inflation rate was 2.5%, and it’s government budget deficit was about $250 billi

on. It’s debt to GDP ratio was unchanged. About what was it’s debt at the start of last year?
a. 16.7 trillion
b. 10.0 trillion
c. 6.25 trillion
d. 3.85 trillion
Business
1 answer:
Arturiano [62]3 years ago
5 0

Answer:

d. 3.85 trillion

Explanation:

Step 1: Given data

GDP = GDP grew by = 4% = 0.04

R = inflation rate was = 2.5% = 0.025

D = government budget deficit was = $250 billion

Step 2: Formula

X = debt at the start of last year

X = D / (GDP + R)

Step 3: Computation

X = 250 billion / (0.04 + 0.025)

X = 250,000,000,000 / 0.065

X = 3,846,153,846,153.85

Step 4: Convert to trillion

X = 3,846,153,846,153.85 / 1,000,000,000,000

X = 3.85 trillion

The correct option is d. 3.85 trillion

Hope this helps!

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4 0
1 year ago
Lucas spends $83. 42 in additional interest and charges on monthly payments as the result of a prior bankruptcy. If Lucas been a
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The amount saved for the year would be:

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2 years ago
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If the government sets out to make home buying easier for more people by forcing lenders to accept ____________ down payments an
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If both interest rates and down payment amounts lower, then the quantity demanded for houses should increase a lot, which will result in an increase in the prices of houses.

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3 years ago
Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's
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Answer:

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5 0
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You are going to deposit $24,500 today. You will earn an annual rate of 5.5 percent for 8 years, and then earn an annual rate of
NeTakaya

Answer:

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Explanation:

<em>The Future value (FV) of an investment is the total amount (principal plus interest) that will accumulate in the future where interest is paid and compounded at a particular rate per period for a certain number of periods.</em>

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