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photoshop1234 [79]
2 years ago
6

Real GDP per capita in the U.S. grew from about​ $6,000 in the year 1900 to about​ $51,500 in​ 2016, an average growth rate of​

1.9%. If the U.S. economy continues to grow at this​ rate, how many years will it take for real GDP per capita to​ double? If the U.S. government is able to stimulate the economy such that real GDP grows at a rate of​ 2.2%, how many fewer years would it take for real GDP per capita to double at this higher​ rate?
Business
1 answer:
ollegr [7]2 years ago
8 0

Answer:

36.84 years and 31.82 years

Explanation:

In this question ,we applied the rule no 70 which means we get to know the estimated number of years for doubling the real GDP

In the first case, the estimated number of years

= 70 ÷ average  annual growth rate

= 70 ÷ 1.9%

= 36.84 years

In the second case, the estimated number of years

= 70 ÷ average  annual growth rate

= 70 ÷ 2.2%

= 31.82 years

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Explanation:

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3 years ago
Which one of these statements is correct? Long-term debt is the residual difference between assets and liabilities. Net income t
sergey [27]

Answer:

Long term debt requires a payout of cash within a stated time period.

Explanation:

When entering into a long term debt, there are terms and conditions like interest to be charged and payment terms so obviously there is an expected cash payout to repay the debt at a stated time period.

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In which Step of production process are materials manipulated
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tread count

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In an effort to save money for early retirement, an environmental engineering colleague plans to deposit $1,700 per month, start
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Answer:

$268,696.93

Explanation:

Where an equal amount of money is saved periodically to earn interest at a particular rate of interest to accumulate a target amount in the future , it is called a sinking fund. The purpose could be for retirement, loan repayment or asset acquisition

The sum accumulated (deposit plus interest earned) at the end of the final period is known as the Future Value (FV) of the sinking fund.

The FV is determined as follows:

FV = A × ((1+r/m)^(n× m) - 1)/(r/m))

where FV- future value, A- annual cash flow, r-rate of return, n- number of years, m- number of compounding periods in a year.

<em>so we can apply  this to our question</em>

a = 1700, r - 8%= 0.08, m=4, n- 18

FV = 1,700 ×( (1+0.08/4)^(18 × 4) - 1)/(0.08/4))

     = 1700  × 158.0570

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The account will have $268,696.93 at he end of he 18 years

5 0
3 years ago
Ian participates in a 401(k) plan at work. For every $1 Ian contributes to the plan, his employer adds 50 cents. Employer contri
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Ian's Employer's total contribution:

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Therefore total contribution last year :

$3900 + $1250 = $5,150

6 0
3 years ago
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