Question

use the approximate doubling time formula (rule of 70) for the case described below. discuss whether the formula is valid for the case described.

oil consumption is increasing at a rate of 0.4% per year. what is its doubling time? by what factor will oil consumption increase in 1 decade?

what is its doubling time?

years
(type an integer or decimal rounded to two decimal places as needed.)

Explanation:

State the given growth rate

Using the Rule of 70 and Doubling Time knowledge points

$$ r = 0.4\% $$

Calculate the approximate doubling time

Using the Rule of 70 and Doubling Time knowledge points

$$ T_{\text{double}} \approx \frac{70}{r} = \frac{70}{0.4} = 175\text{ years} $$

Answer:

What is its doubling time?

<blank>175</blank> years