
College Algebra
7th Edition
ISBN: 9781305115545
Author: James Stewart, Lothar Redlin, Saleem Watson
Publisher: Cengage Learning
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In the wake of the 2008 financial crisis, bank failures started spiraling upward. The number of bank failures peaked in 2010 at 1577. Thereafter, the number of bank failures bagn to fall sharply. The number of bank failures from 2010 through 2012 is described by the function
f(t)= 157e-.55t (0≤t≤2)
where t is measured in years, with t=0 corresponding to 2010.
A) How fast was the number of bank failures dropping in 2011?
B) If the trend continued, how many bank failures were there in 2013?
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