The average annual economic growth rate in Singapore over the 22.00 years from 1957 to 1979 was 3.20%.
The average annualized return of a portfolio, asset, or cash flow over time is known as the average annual growth rate, or AAGR.
Real per capita GDP in Singapore in 1957 was about $400 and it doubled to about $800.00 by 1979 over the period of 22 years.
Growth rate can be calculated as:
The last value = $800
The initial value = $400
n = number of years
Growth rate = 1.032 - 1 = 0.032
Growth rate % = 0.032×100 = 3.2%
Therefore, the growth rate in Singapore over 22 years are 3.2%.
To know more about economic growth, here
https://brainly.com/question/11679822
#SPJ4
