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Assume adeveloping country's income per capita is $15,000 andthe United States' income per capita is $60,000. If the developing country's income per capita grows at

Assume adeveloping country's income per capita is $15,000 andthe United States' income per capita is $60,000. If the developing country's income per capita grows at 6% while the United States' income per capita grows is 2%, approximately how long will it take the developing country's income per capita to equal that of theUnited States? Use the Rule of 72 to arrive at your answer and round your answer to the nearestyear.

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