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Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described. Gasoline

Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described. Gasoline prices are rising at a rate of 0.6% per month. What is their doubling time? By what factor will prices increase in 33 years? in 88 years?

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