A King Estimates That There Are 5000 Tons of Gold

question 22

Short Answer

A king estimates that there are 5000 tons of gold in his mines. Last year, 125 tons of gold were mined and sold to finance the kingdom. How many years will it be before the kingdom goes bankrupt if the amount of gold refined increases by 2% each year? Round to 1 decimal place.

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Definitions:

Selective Attention

The focusing of conscious awareness on a particular stimulus while ignoring others, an important aspect of cognitive processing.

Intuitive Judgments

Decisions made based on one's instincts or gut feelings without the need for conscious reasoning or analysis.

Approach

A method or way of dealing with a particular problem or task.

Experience

The knowledge or skill acquired by a person over time through direct participation in events or activities.