What will be the value of gdp per capita in ten years

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In the CIA World Factbook, GDP per capita in the United States in 2010 was approximately $47,400.

The formula for growth for any given year, yt, is yt = y0 (l + gy), where y0 is the value of GDP in the beginning year, yt is the value of GDP for the specific year in question, and t is the number of years after y0.

If y0 is GDP per capita in 2010 and the economy continues to grow at approximately 3% as it did in 2010, what will be the value of GDP per capita in 10 years?

Reference no: EM131832618

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