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Using the Rule of 70, If the Country of Flowerdomʹs

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Using the Rule of 70, if the country of Flowerdomʹs current growth rate of real GDP per person was 10 percent a year, how long would it take the countryʹs real GDP per person to double?


Definitions:

Information

Data that is processed, organized, structured, or presented in a given context to make it meaningful and useful.

Voucher

A written document that serves as evidence of a transaction and authorizes payment.

Vouchers Payable

These are obligations or liabilities for goods and services received that are not yet paid for, usually validated by a voucher system.

Gross Method

An accounting practice where purchases are recorded at their full invoice price without deducting any purchase discounts taken.

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