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In the second half of the twentieth​ century, Japan experienced exceptional growth. According to World Bank​ data, in​ 1985, Japan's GDP was​ $3.67 trillion, and its annual growth rate was 6.33 percent. The GDP in this problem is in constant 2010 dollars. Assuming an exponential annual growth rate of 6.33​ percent, Japan's projected GDP in 2010 was?

Respuesta :

Answer:

$17.02 trillion

Explanation:

The computation of the projected GDP in 2010 is shown below:

= Japan's GDP × (1 + annual growth rate)^difference in years

= $3.67 trillion × (1 + 6.33%)^25

= $3.67 trillion × (1.0633)^25

= $3.67 trillion × 4.6386899679

= $17.02 trillion

The difference in years would be

= Year 2010 - Year 1985

= 25 years

Hence, all the given information is relevant

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