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Using the rule of 72, how long does it take for country X's production to double? 19 years Using the rule of 72, how long does it take for country Y's production to double? 25 years After how long will the two countries have the same level of production? 228 years

Using the rule of 72, how long does it take for country X's production to double? 19 years Using the rule of 72, how long does it take for country Y's production to double? 25 years After how long will the two countries have the same level of production? 228 years

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Instructions: Modify the settings in the interactive tool as needed to answer the questions below. Suppose country X currently produces $4400 of goods and services per year with a constant growth rate of 3.8% per year, Country Y's production is currently $5300 with growth of 2.9% per year. Using the rule of 72, how long does it take for country X's production to double? 19 O years Using the rule of 72, how long does it take for country Y's production to double? 25 years After how long will the two countries have the same level of production? 22.8 years Estimate the level of production when the two countries produce the same amount. $ 8800 < Prev 8 of 11 Score answer >
Transcribed Image Text:Instructions: Modify the settings in the interactive tool as needed to answer the questions below. Suppose country X currently produces $4400 of goods and services per year with a constant growth rate of 3.8% per year, Country Y's production is currently $5300 with growth of 2.9% per year. Using the rule of 72, how long does it take for country X's production to double? 19 O years Using the rule of 72, how long does it take for country Y's production to double? 25 years After how long will the two countries have the same level of production? 22.8 years Estimate the level of production when the two countries produce the same amount. $ 8800 < Prev 8 of 11 Score answer >
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