Difficulty: Easy
Correct Answer: P (1 + r)^n
Explanation:
Introduction / Context:
Forecasting design traffic is a key step in pavement and geometric design. A common method assumes compound annual growth from a base traffic count to estimate the current or design-year average daily traffic.
Given Data / Assumptions:
Concept / Approach:
Compound growth increases traffic multiplicatively each year. Therefore, future traffic equals the base multiplied by the compounding factor repeated n times.
Step-by-Step Solution:
Verification / Alternative check:
For small r, a linear approximation P(1 + n r) is sometimes used for quick checks; however, design uses the compound expression.
Why Other Options Are Wrong:
(b) implies decline; (c) and (d) are nonstandard exponents unrelated to elapsed years.
Common Pitfalls:
Using percentage (e.g., 6) instead of fraction (0.06) in (1 + r); ignoring compounding for multi-year projections.
Final Answer:
P (1 + r)^n
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