If one country is growing at a growth rate of 2 percent per year,how many years would you expect for it to double income per capita?

Question

Quizplus · Accepted Answer

The rule of 72 is a simple way to estimate the number of years required to double the investment at a given annual rate of return. By dividing 72 by the annual rate of return, investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself. In this case, dividing 72 by the growth rate of 2 percent gives 36 years.

If One Country Is Growing at a Growth Rate of 2