question 6 of 10\naccording to the rule of 72, if the gdp of the apex federation is growing at 1.9% per…

question 6 of 10\naccording to the rule of 72, if the gdp of the apex federation is growing at 1.9% per year, its economy will double in approximately how many years?\na. 55 years\nb. 38 years\nc. 32 years\nd. 41 years

question 6 of 10\naccording to the rule of 72, if the gdp of the apex federation is growing at 1.9% per year, its economy will double in approximately how many years?\na. 55 years\nb. 38 years\nc. 32 years\nd. 41 years

Answer

Answer:

B. 38 years

Explanation:

Step1: Recall the rule of 72 formula

The rule of 72 formula is (t=\frac{72}{r}), where (t) is the time to double and (r) is the growth rate.

Step2: Substitute the given growth rate

Given (r = 1.9). Then (t=\frac{72}{1.9}\approx37.89\approx38) (rounded to the nearest whole number).