Geologists estimate that there are currently 300 million tons of copper left on Io, while the current level of extraction and consumption of copper on Io is 5 million tons of copper per year, which is projected to increase by 6% p.a. After how many years (rounded to the nearest whole number) will the copper reserves on Io be exhausted?   Number of years before copper is exhausted

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Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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  1. 1.1)         Geologists estimate that there are currently 300 million tons of copper left on Io, while the current level of extraction and consumption of copper on Io is 5 million tons of copper per year, which is projected to increase by 6% p.a. After how many years (rounded to the nearest whole number) will the copper reserves on Io be exhausted?

     

    Number of years before copper is exhausted 

Expert Solution
Step 1

Initial extraction and consumption of copper= 5 million 

Rate of increase= 6%=0.06 

Let after t years it will be exhausted 

So the total amount of extracted copper is: 5(1+0.06)t million or 5(1.06)million

 

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