How many years it take for groland to catch up to sloland, Microeconomics

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How many years it take for groland to catch up to sloland

Problem

Real GDP per capita in Groland is expected to grow at an average annual rate of 2.0%. Currently, real GDP per capita is $10,000. In Sloland, however, growth is expected to be somewhat slower, at an average annual growth rate of 1.5%. Sloland has a real GDP per capita today of $20,000. How many years will it take for Groland to catch up to Sloland in terms of real GDP per capita?

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Microeconomics: How many years it take for groland to catch up to sloland

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