Future Traffic Volume with Growth Rate
Easytransportation planninggrowth
A road segment currently carries a peak-hour volume of 1,800 veh/h, and traffic is forecast to grow at 3% per year compounded. The peak-hour volume after 15 years is most nearly:
- A2,340 veh/h
- B2,610 veh/h
- C2,800 veh/h
- D3,240 veh/h
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Answer: C. 2,800 veh/h
Compound growth gives Vₙ = V₀(1 + r)ⁿ = 1,800(1.03)¹⁵ = 1,800(1.558) ≈ 2,800 veh/h. Applying the growth rate as simple interest, 1,800[1 + (0.03)(15)] = 2,610 veh/h, understates the result because it ignores compounding.
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