Assume that the total external debt of 138 developing countries increased from ($609) billion in 1980 to

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Assume that the total external debt of 138 developing countries increased from \($609\) billion in 1980 to \($2,332\) billion in 2001.

(a) Determine the annual compound growth rate of the total external debt for these 138 developing countries from 1980 to 2001.

(b) Determine the annual simple growth rate of the total external debt for these 138 developing countries from 1980 to 2001.

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