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

by what factor will oil consumption increase in 1 decade?

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

Explanation:

Calculate the doubling time using the Rule of 70

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

Calculate the growth factor for 1 decade

$$
LATEXBLOCK0
$$

Answer:

Question 1

What is its doubling time?
<blank>175</blank> years

Question 2

By what factor will oil consumption increase in 1 decade?
<blank>1.040</blank>