Originally Posted by
Stem01 Hey.
Could someone help me on this question because i am stuck. Am i doing the wrong thing?
Write down the function which could be used to estimatethe GDP of a particular country in t years time, when the current GDP equals A units, and which grows at r% per annum, where growth is continuous.
Use this function, estimate the annual average percentage rate of growth r, when GDP of a country grows from 250 units to 420 units in 8 years.
GDP = Ae^8
lnGDP = lnA + lne^8
= 170 + 2980
= 3150
This doesn't look right could someone tell me what im doing wrong?
THanks