Mathematics: If the secular trend of labor productivity is 3 years percent per year, the number of years that it will take for the standard of living to double will be about

If the secular trend of labor productivity is 3

Ответ:

kaitlynngrace15

29.01.2022

Mathematics

23 years.

Step-by-step explanation: The labor productivity grows 3% per year, then the rate of growing is 1 + 0.03 = 1.03.

The equation to caclulate the years is:

$y = y_{0}.(1.03)^{t}$

To double: $y = 2y_{0}$

Substituing:

$2y_{0} = y_{0}.(1.03)^{t}\\(1.03)^{t} = 2\\ln1.03^{t} = ln2\\t = \frac{ln2}{ln1.03}\\ t = 23$

To double the standard of living, it will take 23 years.

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Ответ:

avaryan84

29.05.2020

Mathematics

The amount of time Jill spent to do her homework
= 9 1/2 hours. which equals to 570 minutes.

Which means, the amount of times Jack needed to do his is
= 570 minutes x 1.5
= 855 minutes which equals to 14 1/4 hours

hope this helps

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If the secular trend of labor productivity is 3 years percent per year, the number of years that it will take for the standard of living to double will be about

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