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SashulF [63]
3 years ago
7

Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year and that real GDP per capita

of China is $4,000, and its annual growth rate is 7%. According to the rule of 70, how large will China's real GDP per capita be in 20 years?
Business
1 answer:
Likurg_2 [28]3 years ago
7 0

Answer:

China' s real GDP per capita would be $16,000 in 20 years

Explanation:

Rule of 70, states that divide 70 with the growth rate and will get the time it will take, for an amount to get twice its present value.

After 10 years,

China's GDP would be the twice of GDP per capita.

In numerical terms

= 2 ×  GDP per capita

So, after 20 years, it would be 4 ×  GDP per capita

Therefore,

= 4 × $4,000

= $16,000

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3 years ago
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4 years ago
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$1800

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Another way to calculate the number of tax during this example is to multiply your assessed value by 0.0185. Using the millage rate above, a home assessed at $300,000 would have a bill of $5,550. The formula is: Assessed value ($300,000) x millage rate (1.85%, or 0.0185) = land tax ($5,550). To calculate the mileage, or mill rate, a possessor divides the quantity of mills by 1,000.

As an example, say a neighborhood taxing authority encompasses a mill rate of 15 on the assessed value of holding in its jurisdiction. That puts the capital levy rate at 1.5% before any county taxes adjustments or exemptions. To calculate your individual property's effective charge per unit, all you have got to try and do is divide your annual invoice by what you estimate to be the value of your property.

The assessed value estimates the reasonable value for your home. it's based upon prevailing local realty market conditions. Multiply the value of your item or service by the county taxes charge per unit. If you have got a charge per unit as a percentage, divide that number by 100 to induce the charge per unit as a decimal. Then use this number within the multiplication process.

learn more about county taxes: brainly.com/question/25844719

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2 years ago
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