The World Natural Gas Usage from 1990 to 2014
How many cubic feet of natural gas will the world use from 1990 to 2014 if the demand continues to grow at a rate of 4% per year?
To calculate the total natural gas usage from 1990 to 2014, we need to find the growth rate over this period and apply it to the initial usage. Since the demand is growing exponentially at a rate of 4% per year, we can use the exponential growth formula: final value = initial value * (1 + growth rate)^(number of years). In this case, the initial value is 73875 billion cubic feet, the growth rate is 0.04, and the number of years is 24 (2014 - 1990). Plugging in these values, we get: final value = 73875 * (1 + 0.04)^(24) ≈ 139,428 billion cubic feet.
Calculation Details:
Growth Rate: 4% per year
Number of Years: 24
Using the formula, we calculate: Final Value = 73875 * (1 + 0.04)^(24)
Final Value = 138428 billion cubic feet
This means that the world will use approximately 139,428 billion cubic feet of natural gas from 1990 to 2014, assuming a constant growth rate of 4% per year.