SOLUTION: The consumption of electricity has increased at a continuous rate of 6% per year. If it continued to increase at this rate, find the number of years before exactly twice as much el

Question 608919: The consumption of electricity has increased at a continuous rate of 6% per year. If it continued to increase at this rate, find the number of years before exactly twice as much electricity would be needed.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
The consumption of electricity has increased at a continuous rate of 6% per year.
If it continued to increase at this rate, find the number of years before exactly twice as much electricity would be needed.
:
Let t = no. of yrs for the price to double
:
1*(1+.06)^t = 2
:
Use nat logs to solve this:
t*ln(1.06) = ln(2)
:
t = ; use a calc
t = 11.89 yrs

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