Question
24. Financial Literacy In 2010 , the national debt of the United States was about 14 trillion dollars. In 2003 it was about \( 7 \times 10^{12} \) dollars. About how many times larger was the national debt in 2010 than in 2003 ?
Ask by Hobbs Medina. in the United States
Mar 21,2025
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Tutor-Verified Answer
Answer
The national debt in 2010 was 2 times larger than in 2003.
Solution
1. The national debt in 2010 was \(14\) trillion dollars.
2. The national debt in 2003 was \(7 \times 10^{12}\) dollars, which is equivalent to \(7\) trillion dollars.
3. To find how many times larger the 2010 debt was compared to the 2003 debt, we calculate the ratio:
\[
\text{Ratio} = \frac{14 \text{ trillion}}{7 \text{ trillion}} = 2
\]
4. Thus, the national debt in 2010 was \(2\) times larger than in 2003.
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Simplify this solution Beyond the Answer
To determine how many times larger the national debt was in 2010 than in 2003, you can divide the 2010 debt by the 2003 debt. So, \( \frac{14 \text{ trillion}}{7 \text{ trillion}} = 2 \). Therefore, the national debt in 2010 was about 2 times larger than in 2003. For an extra twist, think of it this way: if the national debt were a giant chocolate cake, in 2003 you had a pretty decent-sized slice worth 7 trillion calories, but by 2010, that slice grew to a massive 14 trillion calories! That's twice the cake, which means twice the financial planning skills needed to handle it! 🍰
