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doubling

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CEO
CEO
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Joined: 21 Jan 2007
Posts: 2770
Location: New York City
Followers: 6

Kudos [?]: 215 [0], given: 4

GMAT Tests User
doubling [#permalink] New post 29 Jan 2009, 11:54
the real GDP in Northwest Island is 4 times that of Southeast Island. If real GDP in Southeast Island is growing at 10% a year, and real GDP in Northwest Island is growing at 3.5% a year, approximately how many years will it take for real GDP in the 2 islands to match? (use the rule of 70 and assume population growth is 0.)

please show your work (via calculator)
_________________

You tried your best and you failed miserably. The lesson is 'never try'. -Homer Simpson

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CEO
CEO
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Joined: 29 Aug 2007
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Kudos [?]: 500 [1] , given: 19

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Re: doubling [#permalink] New post 29 Jan 2009, 14:10
1
This post received
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Hey buddy, welcome back after a long time! 8-)
Good to see you. :-D

bmwhype2 wrote:
the real GDP in Northwest Island is 4 times that of Southeast Island. If real GDP in Southeast Island is growing at 10% a year, and real GDP in Northwest Island is growing at 3.5% a year, approximately how many years will it take for real GDP in the 2 islands to match? (use the rule of 70 and assume population growth is 0.)

please show your work (via calculator)



n = 4s
g(n) = 3.5%
g(s) = 10.00%

n (1+ g(n))^n = s (1+g(s))^n
4s (1+ 0.035)^n = s (1 + 0.1)^n
4 (1+ 0.035)^n = (1 + 0.1)^n
4 = (1.10/1.035)^n
4 = (1.063)^n

n has to be 22.76 to have (1.063)^n = 4.

Note: Use goal seek feature of excel to find the value of n.
_________________

Verbal: new-to-the-verbal-forum-please-read-this-first-77546.html
Math: new-to-the-math-forum-please-read-this-first-77764.html
Gmat: everything-you-need-to-prepare-for-the-gmat-revised-77983.html


GT

SVP
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Re: doubling [#permalink] New post 29 Jan 2009, 14:12
GMAT TIGER wrote:
bmwhype2 wrote:
the real GDP in Northwest Island is 4 times that of Southeast Island. If real GDP in Southeast Island is growing at 10% a year, and real GDP in Northwest Island is growing at 3.5% a year, approximately how many years will it take for real GDP in the 2 islands to match? (use the rule of 70 and assume population growth is 0.)

please show your work (via calculator)



n = 4s
g(n) = 3.5%
g(s) = 10.00%

n (1+ g(n))^n = s (1+g(s))^n
4s (1+ 0.035)^n = s (1 + 0.1)^n
4 (1+ 0.035)^n = (1 + 0.1)^n
4 = (1.10/1.035)^n
4 = (1.063)^n

n has to be 22.76 to have (1.063)^n = 4.

Note: Use goal seek feature of excel to find the value of n.


i used excel too
4 = (1.063)^n
n= log(1.063)/log4 =22.76
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CEO
CEO
User avatar
Joined: 21 Jan 2007
Posts: 2770
Location: New York City
Followers: 6

Kudos [?]: 215 [0], given: 4

GMAT Tests User
Re: doubling [#permalink] New post 09 Feb 2009, 07:34
GMAT TIGER wrote:
Hey buddy, welcome back after a long time! 8-)
Good to see you. :-D

bmwhype2 wrote:
the real GDP in Northwest Island is 4 times that of Southeast Island. If real GDP in Southeast Island is growing at 10% a year, and real GDP in Northwest Island is growing at 3.5% a year, approximately how many years will it take for real GDP in the 2 islands to match? (use the rule of 70 and assume population growth is 0.)

please show your work (via calculator)



n = 4s
g(n) = 3.5%
g(s) = 10.00%

n (1+ g(n))^n = s (1+g(s))^n
4s (1+ 0.035)^n = s (1 + 0.1)^n
4 (1+ 0.035)^n = (1 + 0.1)^n
4 = (1.10/1.035)^n
4 = (1.063)^n

n has to be 22.76 to have (1.063)^n = 4.

Note: Use goal seek feature of excel to find the value of n.


thanks! i scored a flat 700 on my first attempt (my quant was lacking) and moved on to CFA Level 2 (which is where this question came from). dont know whether i want to attend MBA school in this economic environment.
_________________

You tried your best and you failed miserably. The lesson is 'never try'. -Homer Simpson

CEO
CEO
User avatar
Joined: 29 Aug 2007
Posts: 2501
Followers: 53

Kudos [?]: 500 [0], given: 19

GMAT Tests User
Re: doubling [#permalink] New post 10 Feb 2009, 21:41
Congrats buddy.
Come up with your debrief.
Goodluck.


bmwhype2 wrote:
GMAT TIGER wrote:
Hey buddy, welcome back after a long time! 8-)
Good to see you. :-D

bmwhype2 wrote:
the real GDP in Northwest Island is 4 times that of Southeast Island. If real GDP in Southeast Island is growing at 10% a year, and real GDP in Northwest Island is growing at 3.5% a year, approximately how many years will it take for real GDP in the 2 islands to match? (use the rule of 70 and assume population growth is 0.)

please show your work (via calculator)



n = 4s
g(n) = 3.5%
g(s) = 10.00%

n (1+ g(n))^n = s (1+g(s))^n
4s (1+ 0.035)^n = s (1 + 0.1)^n
4 (1+ 0.035)^n = (1 + 0.1)^n
4 = (1.10/1.035)^n
4 = (1.063)^n

n has to be 22.76 to have (1.063)^n = 4.

Note: Use goal seek feature of excel to find the value of n.


thanks! i scored a flat 700 on my first attempt (my quant was lacking) and moved on to CFA Level 2 (which is where this question came from). dont know whether i want to attend MBA school in this economic environment.

_________________

Verbal: new-to-the-verbal-forum-please-read-this-first-77546.html
Math: new-to-the-math-forum-please-read-this-first-77764.html
Gmat: everything-you-need-to-prepare-for-the-gmat-revised-77983.html


GT

Re: doubling   [#permalink] 10 Feb 2009, 21:41
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