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In 2010 GDP per capita in the United States was $42,189, whereas GDP per capita in El Salvador was $3,068. Suppose that income per capita in the United States has been growing at a constant rate of 1.8% per year. (Figure 1.4 shows that this is roughly true.) Calculate the year in which income per capita in the United States was equal to year 2010 income per capita in El Salvador.

Q&A Education