Asked by leung
A country has 135 years of iron reserves at the current rate of consumption. Suppose that the demand for iron in the country is 10,000,000 tons per year. Furthermore the iron is consumed at a rate that increases 7.5% per year.
(a) How long will the iron reserves last?
(b) Suppose a recent discovery has doubled the quantity of iron reserves. Now how long will the iron reserves last?
(a) How long will the iron reserves last?
(b) Suppose a recent discovery has doubled the quantity of iron reserves. Now how long will the iron reserves last?
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