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Answer:
- after 5 years, rich : poor = 11.0 : 6.7
- after 10 years, 12.2 : 9.0
- 35.3 years
Step-by-step explanation:
It is convenient to let a graphing calculator show the answers to these questions.
The exponential equation modelling the growth will be of the form ...
f(x) = (initial value) × (1 +growth rate)^x
Richland's GDP/person can be modeled by r(x) = 10·1.01^x
Poorland's GCP/person can be modeled by p(x) = 5·1.03^x
The attached graph shows values for x=5, 10 and r(x)=p(x).
It will take about 35.3 years for Poorland to catch up.
