Use the approximate doubling time formula for the case described below. Discuss whether the formula is valid for the case described. Gasoline prices are rising at a rate of 0.8% per month. What is their doubling time? By what factor will prices increase in 3 years? in 5 years? Use the approximate doubling time formula. What is its doubling time? months (Type an integer or decimal rounded to the nearest hundredth as needed.) Use the approximate doubling time formula. By what factor will the prices increase in 3 years? (Type an integer or decimal rounded to the nearest hundredth as needed.) Use the approximate doubling time formula. By what factor will the prices increase in 5 years? (Type an integer or decimal rounded to the nearest hundredth as needed.) Is this formula valid in the case described? No, the given growth rate is below 15% O Yes, the given growth rate is below 15% O Yes, the given growth rate is above 15% No, the given growth rate is above 15%

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