For each growth rate below, use the rule of 70 to calculate (i) how long it will
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Question:
For each growth rate below, use the rule of 70 to calculate (i) how long it will take incomes to double, and (ii) if each country starts with an income of $1,000 per capita, what the income will be in 30 years.
a. 4 percent.
b. 7 percent.
c. 2.5 percent.
d. 10 percent.
e. 3 percent.
Related Book For
Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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