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Question

Assume federal debt reaches about $\$ 20$ trillion in $2017$.

If interest rates remain at the $2012$ level of $2.1 \%$, find the interest payment on the debt. Discuss the change in the interest payment with a $0.5$-point increase in the interest rate.

Solution

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Answered 1 year ago

Step 1

1 of 4It is given that federal debt in $2017$ is about $20$ trillion. One trillion is $10^{12}$.

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