In each of the following problems, find an exponential function of the form
Personal Consumption Expenditures Medicare expenditures were $110 billion in 1990 and $646 billion in 2015. (Data from: Centers for Medicare and Medicaid Services.)
Let
According to the model, what were the Medicare expenditures in 2012?
If the model remains accurate, estimate Medicare expenditures for 2025.
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- Use a graphing calculator to solve each problem. In Example 4, suppose that a birth control program changed the formula for poulation growth to Pt=1000e0.01t. How long will the food supply be adequate? EXAMPLE 4 Using a Graphing Calculator to Solve a popuiation Problem Suppose that a country with a population of 1000 people is growing exponentially according to the population function Pt=1000e0.02t Where t in years. Furthermore, assume that the food supply, measured in adequate food per day per person, is growing linearly according to the function fx=30.625x+2000 In how many years will the population outstrip the food supply?arrow_forwardAn investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded continuously. How much will theaccount be worth after 15 years?arrow_forwardMatch the exponential function with one of the graphs labeled I,II,III and IV, shown below. (a) f(x)=2x (b) f(x)=2x (c) f(x)=2x (d) f(x)=2xarrow_forward
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