Using the Rule of 70, if the country of Flowerdom's current growth rate of real GDP per person is 7 percent a year, how long will it take the country's real GDP per person to double?

Question

Quizplus · Accepted Answer

The Rule of 70 states that to find the approximate number of years for a variable to double, you divide 70 by the annual growth rate. In this case, 70/7 = 10. Therefore, it will take Flowerdom 10 years for their real GDP per person to double with a growth rate of 7 percent per year.

Using the Rule of 70, If the Country of Flowerdom's