In 2011 a country's federal receipts (money taken in) totaled $2.05 trillion. In 2013, total federal receipts were $2.83 trillion. Assume that the growth of federal receipts, F, can be modeled by an exponential function and use 2011 as the base year (t=0). a)Find the growth rate k to six decimal places, and write the exponential function F(t), for total receipts in trillions of dollars.b)Estimate total federal receipts in 2015.c)When will total federal receipts be $15 trillion?

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Answered: In 2011 a country's federal receipts…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 29PT: A radiation safety officer is working with 112 grams of a radioactive substance. After 17 days,...

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In 2011 a country's federal receipts (money taken in) totaled $2.05 trillion. In 2013, total federal receipts were $2.83 trillion. Assume that the growth of federal receipts, F, can be modeled by an exponential function and use 2011 as the base year (t=0).

a)	Find the growth rate k to six decimal places, and write the exponential function F(t), for total receipts in trillions of dollars.
b)	Estimate total federal receipts in 2015.
c)	When will total federal receipts be $15 trillion?