Question

If gdp is $20 trillion how many years will it take for a gdp to increase to 80$ trillion if growth is 7 percent

Answer 1

19. 8 years

Explanation:

Using the exponential growth function :

A = Pe^rt

A = final amount or growth unit

P = initial or present growth unit

Rate, r = growth rate

80 = 20e^0.07t

80/20 = e^0.07t

4 = e^0.07t

Take In of both sides

In(4) = 0.07t

1.3862943 = 0.07t

t = 19.804205

t = 19. 8 years