Question

a. In 2000, the United States government owed about 5.63 trillion to its creditors. The population of the United States was 282.4 million people. How much did the government owe per person in 2000? Round to the nearest dollar.

b. In 2005 the debt had grown to 7.91 trillion, with a population of 296.9 million. How much did the government owe per person? Round to tge nearest dollar.

Answer 1

Answer A) $19,936
Answer B) $26,642

Answer 2

For Part A, you should just divide the debt by the population, which will give you $19,936.

You should do the same for Part B, which yields a result of $26,642.