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.
:
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 = {{{ln(2)/ln(1.06)}}}; use a calc
t = 11.89 yrs