The annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2% per year, measured in 1996 dollars. In 1985, the GDP was $577 billion.

In what year will the GDP reach $2 trillion? You just need to give the year, not part of a year.

Question

The annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2% per year, measured in 1996 dollars. In 1985, the GDP was $577 billion.

	In what year will the GDP reach $2 trillion? You just need to give the year, not part of a year.

jazzyfa30 · Answer

@genius12

jazzyfa30 · Answer

@Babyslapmafro @e.cociuba  @e.mccormick

e.mccormick · Answer

Have you been studying things like $Pe^{rt}$ recently?

jazzyfa30 · Answer

i think so

e.mccormick · Answer

OK, then you need to start by filling in what is known and then solve for what is unknown.  Do you remember what the different variables in that formula mean?

jazzyfa30 · Answer

no

e.mccormick · Answer

$P=P_0e^{rt}$

Where: 
$P$ is the end result after growth
$P_0$ is the number you started with
$e$ is the constant e.
$r$ is the percentage rate as a decimal
$t$ is time

jazzyfa30 · Answer

ok  ummm but how do i fill that in???

e.mccormick · Answer

The top is what you fill in.  The Where: is what they mean.  What you need to do is look a the question and see which of $P$, $P_0$, $r$, and $t$ did they give and what one is missing. e is just e, so you know that is given.

e.mccormick · Answer

Start here:  "In what year will the GDP reach $2 trillion? You just need to give the year, not part of a year."

There is a number and a question there.  Which are they in the Pert formula?

jazzyfa30 · Answer

the results after the growth

e.mccormick · Answer

Yes, 2T is the P.  So we have:
$2\textbf{T}=P_0e^{rt}$

And were you able to see which part we are being asked for?

jazzyfa30 · Answer

sorry i had to do sum and no not that i can think of

e.mccormick · Answer

"In what year"  vs. $P_0e^{rt}$

We have P, so it must be P sub 0, r, or t.  P sub 0 is the starting number.  r is the precentage of change as a decimal.  And t is time.  A "year" relates to wich of these?  That is what you need to solve for.