The average default rate in the economy is 1.5% of the face value of outstanding debt defaults per year.How many years will it be on average before half the firms are no longer in existence if no new firms enter the economy?
A)44 years
B)45 years
C)46 years
D)47 years

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The Answer of The average default rate in the economy is 1.5% of the face value of outstanding debt defaults per year.How many years will it be on average before half the firms are no longer in existence if no new firms enter the economy?
A)44 years
B)45 years
C)46 years
D)47 years

The Average Default Rate in the Economy Is 1