Answered: In this exercise use the fact that in…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 29RE: For the following exercise, consider this scenario: In 2004, a school population was 1,700. By 2012...

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Question

In this exercise use the fact that in 2005 the GDP of the U.S. in trillions of dollars was 12.46, and the yearly growth factor for the GDP of the U.S. is 1.029.

The economy of China is smaller than that of the United States but is growing more quickly. Here is a projection for the GDP of China:

C = 8.2 × 1.06^t.

In this projection t is the number of years since 2005 and C is the GDP of China, measured in trillions of U.S. dollars.

(a) Compare the percentage growth rates for the GDP of the United States and China.

The yearly growth factor for C is *blank* , so the percentage growth rate for the GDP of China is *blank* %. The percentage growth rate for the GDP of the U.S. is *blank* %. So the growth rate for the GDP of China is larger than that of the United States.

(b) Find the year when the GDP of China will overtake the U.S. GDP.

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