SOLUTION: help me please if you can. Doubling Time Suppose a conservation campaign coupled with higher rates causes the demand for electricity to increase at only 2% per year, as it h

Question 85607: help me please if you can.

Doubling Time Suppose a conservation campaign coupled
with higher rates causes the demand for electricity to
increase at only 2% per year, as it has recently. Find the
number of years before the utilities will need to double
generating capacity.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Let current rate be c
EQUATION:
If current rate doubles it becomes 2c.
If the growth rate is 0.02 and it takes t years to double you get:
2c = c(1.02)^t
2 = 1.02^t
Take the log of both sides to get:
log2 = t*log1.02
t= [log2]/[log1.02]
t = 35 years
=============
Cheers,
Stan H.
RELATED QUESTIONS
Please help if you can. Find the Half-Life or Doubling Time for the following:... (answered by scott8148)

Can you help me with this? If you invest in an account that pays 7% compounded... (answered by wuwei96815)

I am having problems with this question. Suppose that a market research company finds... (answered by stanbon)

can someone please help me with this problem please.... China is one of the biggest... (answered by josgarithmetic)

please help me thanks Consider the demand for apples. If the prices of a substitute (answered by ikleyn)

please help me Consider the demand for apples. If the prices of a substitute... (answered by ikleyn)

The rule of 72 is a rule of thumb for finding how long it takes money at interest to... (answered by Theo)

i cant get my answer in E notation can someone help me please... China is one of the... (answered by josgarithmetic)

My problem is regarding "demand equation" or demand curve. Here is the word problem:... (answered by MRperkins,solver91311)