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A growing farming conglomerate increases its water usage at a rate of 10%10\% every year. If it used 13,00013,000 megaliters of water this year, then how much water will it use 1717 years from now? If necessary, round your answer to the nearest hundredth.\newline____\_\_\_\_ megaliters

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Q. A growing farming conglomerate increases its water usage at a rate of 10%10\% every year. If it used 13,00013,000 megaliters of water this year, then how much water will it use 1717 years from now? If necessary, round your answer to the nearest hundredth.\newline____\_\_\_\_ megaliters
  1. Identify initial amount and rate: Identify the initial amount of water used and the rate of increase.\newlineThe initial amount of water used is 13,00013,000 megaliters, and the rate of increase is 10%10\% per year.
  2. Convert percentage to decimal: Convert the percentage increase to a decimal to use in calculations.\newlineA 10%10\% increase is the same as multiplying by 1.101.10 (since 10%10\% as a decimal is 0.100.10, and you add 11 to account for the original amount).
  3. Determine number of years: Determine the number of years over which the water usage will increase.\newlineThe number of years is given as 1717.
  4. Use exponential growth formula: Use the formula for exponential growth to calculate the future water usage.\newlineThe formula is P(t)=P0×(1+r)tP(t) = P_0 \times (1 + r)^t, where P(t)P(t) is the future amount, P0P_0 is the initial amount, rr is the rate of increase, and tt is the time in years.
  5. Substitute values and calculate: Substitute the known values into the formula and calculate the future water usage.\newlineP(17)=13,000×(1.10)17P(17) = 13,000 \times (1.10)^{17}
  6. Final calculation: Calculate the future water usage using the values from Step 55.\newlineP(17)=13,000×(1.10)17P(17) = 13,000 \times (1.10)^{17}\newlineP(17)=13,000×4.801P(17) = 13,000 \times 4.801 (rounded to three decimal places)\newlineP(17)62,413P(17) \approx 62,413 megaliters (rounded to the nearest hundredth)

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