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?
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Expert's answer
2015-08-01T00:00:48-0400
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
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