Question
Let's look at the national debt in this century. In 2004, the national debt was $5674 billion, and in 2022 it reached $30,824 billion.
Let's look at the national debt in this century. In 2004, the national debt was $5674 billion, and in 2022 it reached $30,824 billion. a. What was the average annual growth rate in the national debt from 2004 to 2022? b. If the debt continues to grow at this rate, what will the national debt be in 2027? (If you could not find the growth rate in part a, use 15% for this part.) c. If the debt continues to grow at this rate, when will it reach $100,000 billion? (If you could not find the growth rate in part a, use 15% for this part.)
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
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