For each growth rate below, (i) use the rule of 70 to calculate how long it will take incomes to double, and (ii) if each country starts with an income of $1,000 per capita, use the exponential growth equation to calculate what the income will be in 30 years. Instructions: Round your answers to one decimal place. Years for incomes to double Incomes in 30 years a. 4 percent b. 7 percent c. 2.5 percent d 10 percent e. 3 percent

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.