63 125
Assignments Done
99%
Successfully Done
In July 2018

Answer to Question #53750 in Macroeconomics for sisay

Question #53750
An economy with $55000000000 annual GDP grow 10% a year for 10 years continuously ,how much value it is going to have after 10 years of growth?
Expert's answer
We can calculate this using the following formula:
FV = PV * (1+R)^N,
Where
FV – the GDP value in 10 years
PV – GDP present value
R – GDP growth rate
N – number of years
So,
FV = $55000000000 * (1+0.1)^10 = $55000000000 * 2.59 = $142450000000

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions