Need help with finding equal for geometric series
In 2004, US natural gas consumption was 646.7 billion cubic meters. Asian consumption was 367.7 billion cubic meters. During the previous decade, US consumption increased by 0.6% a year, while Asian consumption grew by 7.9% a year. Assume these rates continue into the future.
a) Give the first four terms of the sequence, an, giving US consumption of natural gas n years after 2003.
b) Give the first four terms of a similar sequence b_n showing Asian gas consumption.
I need some clarification. What do they mean n years after 2003. I want to put it in the formula (a_n) * (r)^(n-1).
a_n is initial
r is rate
So for a problem such as a), to find the a_n of 2003 do we multiply 646.7 by 0.006 to get 642.81?
So a formula for part a) should be: 642.81(1.006)^n-1?
Same thing with part b)
Please correct me if I am wrong. Thank you.