If real GDP per person is growing at 4 percent per year, approximately how many years will it take to double?

Name: If real GDP per person is growing at 4 percent per year, approximately how many years will it take to double?
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Question

Quizplus · Accepted Answer

The "Rule of 72" is a way to estimate the number of years it will take for an investment to double at a given annual rate of return. By dividing 72 by the annual rate of growth (4 percent in this case), we get 18 years, which is closest to option A, 17.5 years.

If Real GDP Per Person Is Growing at 4 Percent