MATH 12

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Canada's national debt fluctuates. It is affected by financial markets (such as stock, bond, currency, and commodity markets), the gross domestic product (the gross value of all goods and services produced in the country), and the federal budget (the federal government's income and expenditures for the fiscal year). The national debt exceeded $100 billion in 1981, $200 billion in 1985, and $300 billion in 1988. The size of the national debt is continually changing and is available on the national debt clock.

*Estimate the most recent value for the national debt.
*If the debt were shared equally by all Canadians, what would be the debt per person?
*Suppose that no increase to the debt occurred from this moment on, and no payments were made to reduce it. How much interest would accumulate each year at 2.5%, compounded monthly?
*How much accumulation is this per day?

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