Question
Suppose that the federal debt in 2020 is $13 trillion. If interest rates remain at the 2016 level of 2.4%, find the annual interest payment
Suppose that the federal debt in 2020 is $13 trillion. If interest rates remain at the 2016 level of 2.4%, find the annual interest payment on the debt. How much does the interest payment change with a 0.4-point increase in the interestrate?
The interest payment increases from $______ BILLION TO _______BILLION
(Round to the nearest whole number asneeded.)
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Numerical Analysis
Authors: Richard L. Burden, J. Douglas Faires
9th edition
538733519, 978-1133169338, 1133169333, 978-0538733519
