answer the following

Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described. Oil consumption is increasing at a rate of 0.8% per year. What is its doubling time? By what factor will oil consumption increase in 2 decades? What is its doubling time? D years (Type an integer or decimal rounded to two decimal places as needed.) By what factor will oil consumption increase in 2 decades? E (Type an integer or decimal rounded to three decimal places as needed.) Is this formula valid in the case described? 0 No, the given growth rate is above 15% O No, the given growth rate is below 15% 0 Yes, the given growth rate is below 15% 0 Yes, the given growth rate is above 15%