Suppose the Consumption of Electricity Grows at 4

question 288

Multiple Choice

Suppose the consumption of electricity grows at 4.4% per year, compounded continuously. Find the number of years before the use of electricity has tripled. Round the answer to the nearest hundredth.

• A) 0.25 yr
• B) 68.18 yr
• C) 2.50 yr
• D) 24.97 yr

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Definitions:

International Trade

The exchange of goods, services, and capital across international borders or territories.

Cloth Production

The process of creating textile fabrics from natural or synthetic fibers through various methods including weaving, knitting, and felting.

Opportunity Cost

The forfeiture of advantageous outcomes from different possibilities upon making a specific choice.

Petroleum

Petroleum is a naturally occurring, flammable liquid found in rock formations which is refined into fuel and various chemical products.