Question

question 10 of 10
according to the rule of 72, if the gdp of the apex federation is growing at 1.9% per year, its economy will double in approximately how many years?
a. 55 years
b. 32 years
c. 38 years
d. 41 years

Explanation:

Step1: Apply Rule of 72 formula

The formula for the Rule of 72 is $\text{Years to double} = \frac{72}{\text{Annual growth rate}}$

Step2: Substitute growth rate value

Substitute 1.9 for the annual growth rate: $\text{Years to double} = \frac{72}{1.9} \approx 37.89$

Step3: Round to nearest whole number

Round 37.89 to the closest integer, which is 38.

Answer:

C. 38 years