In: Economics
f country A grows at 5% per year for 30 years, the percent increase will be _______%.
Select one:
A. 330.2
B. 332.2
C. 334.2
D. 336.2
% change over the years =100*(((1+growth rate)^(years)-1)
=100*(((1+0.05)^30)-1)
=332.194238
the % change is 332.2
Option B