Suppose the annual growth rate of GDP in Belize is 3.5 percent. In 20 years, GDP in Belize will double

Name: Suppose the annual growth rate of GDP in Belize is 3.5 percent. In 20 years, GDP in Belize will double
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Question

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Using the Rule of 70, which estimates the number of years required to double an investment at a given annual rate of return, we divide 70 by the annual growth rate. In this case, 70 divided by 3.5 equals 20 years, indicating that the GDP will double once in 20 years.

Suppose the Annual Growth Rate of GDP in Belize Is