Tue 3 Apr, 2012 03:35 pm
I am trying to write an equation which solves for the amount of years remaining of natural gas resources, based on total proved reserves and annual consumption rates. I need to solve for potential annual growth rates of 0,1,2,3, and 5 percents. 0 is easy, just divide the total reserves by the annual consumption. But when I write an equation to solve the rest of them I get more years remaining, even though the annual consumption rate is increasing.
I tried by using the equation:
where t=time remaining in years, R=total reserves,A=annual consumption,and i=annual growth rate as a decimal.
I believe that the problem is that it isn't including the annual consumption for every year, but I'm not sure how to make it do that.
Any help would be awesome.