In 2011 a country's federal receipts (money taken in) totaled $2.09 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 $14 trillion? a) Find the growth rate k. k= (Do not round until the final answer. Then round to six decimal places as needed.)
In 2011 a country's federal receipts (money taken in) totaled $2.09 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 $14 trillion? a) Find the growth rate k. k= (Do not round until the final answer. Then round to six decimal places as needed.)
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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5. Answer the questions for a b and c
Transcribed Image Text:In 2011 a country's federal receipts (money taken in) totaled $2.09 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 $14 trillion?
a) Find the growth rate k.
(Do not round until the final answer. Then round to six decimal places as needed.)
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