Question

In the year 2019, Lee County used approximately 55 million gallons of water. Historical trends show that each year the water demand is increasing by a rate of approximately 2.1%.If this trend continues, approximately how many million gallons of water will be used by Lee County by the year 2025? Round to the nearest million

Answer 1

62 million gallons

Explanation:

To get the amount of water to be used, we approximate it using an exponential equation.

Mathematically;

A = I( 1 + r)^t

where A is the volume of water by the year 2025

I is the volume of water in the year 2019 which is 55 million

r is the rate of increase in water demand which is 2.1% or simply 2.1/100 = 0.021

t is the number of years which is 2025-2019 = 6 years

Now plugging these values into the exponential equation, we have;

A = 55,000,000(1 + 0.021)^6

A = 55,000,000(1.021)^6

A = 62,304,173.899295434 gallons

To the nearest million, this is equal to 62,000,000 gallons