Question 1007702: oil consumption increase rate =2.2% what is the doubling time? by what factor will oil consumption increase in a decade? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! oil consumption increase rate =2.2% what is the doubling time? by what factor will oil consumption increase in a decade?
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Equation:
Solve for "x"::
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(1.022)^x = 2
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x = log(2)/log(1.022)
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x = 31.85 years to double
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(1.022)^10 = 1.243
factor oil consumption will increase by in 10 years = 24%
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Cheers,
Stan H.
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