Oil consumption is increasing at a rate of 1.8% per year. By what factor will oil consumption increase in 6 years? Use the approximate doubling time formula (rule of 70).

1 , 8 70 ​ ≈ 38.8 → t h e am o u n t o f t im e t o d o u b l e t h e co n s u m pt i o n 38 , 8 − 100% 6 − x 38 , 8 x = 600% x ≈ 15.5% I n s i x ye a rs o i l co n s u m pt i o n w i ll in cre a se b y a pp ro x ima t e l y 15.5%

Answered by K3nn3th | 2024-06-10

Answertion:100 it is

Answered by lilliangutierrez83 | 2024-06-12

Oil consumption will increase by approximately 11.3% over 6 years due to an annual growth rate of 1.8%. This is calculated using the exponential growth formula. The doubling time for oil consumption at this growth rate is about 38.89 years.
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Answered by K3nn3th | 2024-12-23