The table below shows outstanding consumer credit (in billions of dollars) at the beginning of various years. Year Credit 1980 350 1985 524 1990 798 1995 1010 2000 1539 2005 2197 2010 2544 2015 3330 1. Use your calculator to find an exponential model for these data, where t = 0 corresponds to the year 1980. Round values to two decimal places. 2. If this model remains accurate, what will the outstanding consumer credit be in 2030? Round to two decimal places, and include units in your answer. 3. Use your calculator to determine the first full year where consumer credit exceeds $5000 billion.
The table below shows outstanding consumer credit (in billions of dollars) at the beginning of various years. Year Credit 1980 350 1985 524 1990 798 1995 1010 2000 1539 2005 2197 2010 2544 2015 3330 1. Use your calculator to find an exponential model for these data, where t = 0 corresponds to the year 1980. Round values to two decimal places. 2. If this model remains accurate, what will the outstanding consumer credit be in 2030? Round to two decimal places, and include units in your answer. 3. Use your calculator to determine the first full year where consumer credit exceeds $5000 billion.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 12CC: Suppose that the initial size of a population is n0 and the population grows exponentially. Let n(t)...
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The table below shows outstanding consumer credit (in billions of dollars) at the beginning of various years.
Year Credit
1980 350
1985 524
1990 798
1995 1010
2000 1539
2005 2197
2010 2544
2015 3330
1. Use your calculator to find an exponential model for these data, where t = 0 corresponds to the year 1980. Round values to two decimal places.
2. If this model remains accurate, what will the outstanding consumer credit be in 2030? Round to two decimal places, and include units in your answer.
3. Use your calculator to determine the first full year where consumer credit exceeds $5000 billion.
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