Between 2006 and​ 2016, the number of applications for​ patents, N, grew by about 4.8​% per year. That​ is, N′(t)=0.048N(t).   ​a)   Find the function that satisfies this equation. Assume that t=0 corresponds to 2006​, when approximately 450,000 patent applications were received. ​b)   Estimate the number of patent applications in 2021.

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
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Chapter10: Radical Functions And Equations
Section: Chapter Questions
Problem 9CR
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Between
2006
and​ 2016, the number of applications for​ patents, N, grew by about
4.8​%
per year. That​ is,
N′(t)=0.048N(t).
 
​a)
 
Find the function that satisfies this equation. Assume that
t=0
corresponds to
2006​,
when approximately
450,000
patent applications were received.
​b)
 
Estimate the number of patent applications in
2021.
​c)
 
Estimate the rate of change in the number of patent applications in
2021.
 
 
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