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.