GDP per capita in the United States was approximately $60,000 in 2019. Use the growth formula to answer the following qu

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Gdp Per Capita In The United States Was Approximately 60 000 In 2019 Use The Growth Formula To Answer The Following Qu 1 (21.27 KiB) Viewed 85 times

GDP per capita in the United States was approximately $60,000 in 2019. Use the growth formula to answer the following questions: a. What will it be in the year 2024 if GDP per capita grows each year by 0 percent? GDP in 2024 b. What will it be in the year 2024 if GDP per capita grows each year by 3 percent? GDP in 2024 Growth formula: (Future value) = (present value)*(1 + r)^t present value = this year's GDP per capita future value = GDP per capita in the future r = rate of growth (in decimal form) per year t = number of years of growth