The Gross National Product (GNP) of the United States in 1960 was 1.665 · 1012 dollars. Until 1989 it increased at a rate of 3.17% per year.
Use this information to answer each of the questions below. Homework Help ✎
What was the GNP in 1989?
Multiply the GNP in 1960 by 1.0317 twenty-nine times.
The GNP in 1989 is
Write an equation to represent the GNP t years after 1960, assuming that the rate of growth remained constant.
Remember that the GNP increases by 3.17% each year.
Do you think the rate of growth really remains constant? Explain.
If you don’t know or you aren’t sure, try looking it up on the internet. Look for a graph. You could enter GNP USA into a search engine.