Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described. Gasoline prices are rising at a rate of 0.4 0.4% per month. What is their doubling time? By what factor will prices increase in 2 2 year s s? in 9 9 years? What is its doubling time? nothing months (Type an integer or decimal rounded to the nearest hundredth as needed.) By what factor will the prices increase in 2 2 years? nothing (Type an integer or decimal rounded to the nearest hundredth as needed.) By what factor will the prices increase in 9 9 years? nothing (Type an integer or decimal rounded to the nearest hundredth as needed.) Is this formula valid in the case described? Yes, the given growth rate is above 15% Yes, the given growth rate is below 15% No, the given growth rate is above 15% No, the given growth rate is below 15%
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Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described.
Gasoline prices are rising at a rate of
0.4
0.4% per month. What is their doubling time? By what factor will prices increase in
2
2 year
s
s? in
9
9 years?
What is its doubling time?
nothing
months
(Type an integer or decimal rounded to the nearest hundredth as needed.)
By what factor will the prices increase in
2
2 years?
nothing
(Type an integer or decimal rounded to the nearest hundredth as needed.)
By what factor will the prices increase in
9
9 years?
nothing
(Type an integer or decimal rounded to the nearest hundredth as needed.)
Is this formula valid in the case described?
Yes, the given growth rate is above 15%
Yes, the given growth rate is below 15%
No, the given growth rate is above 15%
No, the given growth rate is below 15%
Click to select your answer(s).
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