If an economy's GDP will double in 15 years, then its growth rate must be about

Question

Quizplus · Accepted Answer

The rule of 72 is a simple way to estimate the number of years required to double the value of an investment at a fixed annual rate of interest. By dividing 72 by the annual rate of growth, the result gives the approximate number of years for the GDP to double. In this case, 72 divided by 15 years equals approximately 4.8%, which is closest to option A, 4.7%.

If an Economy's GDP Will Double in 15 Years, Then