Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each year. Real GDP per Capita in China is currently $8,000 and grows at approximately 6.5% each year. If these growth rates continue, Real GDP per Capita for each country will be equal in how many years

≅40.5 years

Time for Both countries have same Real GDP per capita is 40.467 years≅40.5 Years

Explanation:

In case of US:

Present Value=$56,000

Increase=r=1.5%=0.015

Future GDP=

where:

t is time

Future GDP=

In case of China:

Present Value=$8,000

Increase=r=6.5%=0.065

Future GDP=

where:

t is time

Future GDP=

We have to find time t when both countries have same future GDP:

=

Dividing equation by 8000:

Taking Natural log (ln) on both sides:

Time for Both countries have same Real GDP per capita is 40.467 years≅40.5 Years

answer; i believe the answer is 40,600,000;