In 2011 a country's federal receipts (money taken in) totaled$2.18 trillion. In 2013, total federal receipts were $2.94 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 $10 trillion? In 2011 a country's federal receipts (money taken in) totaled $2.18 trillion. In 2013, total federal receipts were $2.94 trillion. Assume that the growth of federalreceipts, 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 $10 trillion?a) Find the growth rate k.k=D(Do not round until the final answer. Then round to six decimal places as needed.)Write the exponential function F(t).F(t) =Ob) Estimate total federal receipts in 2015.The total federal receipts in 2015 will be approximately S trillion.(Use the answer from part (a) to find this answer. Round to two decimal places as needed.)c) When will total federal receipts be $10 trillion?years after 2011.The total federal receipts will be $10 trillion approximately(Use the answer from part (a) to find this answer. Round to one decimal place as needed.)

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Description: In 2011 a country's federal receipts (money taken in) totaled$2.18 trillion. In 2013, total federal receipts were $2.94 trillion. Assume that the growth of federal receipts, F, can be modeled by an exponential function and use 2011 as the base

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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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In 2011 a country's federal receipts (money taken in) totaled

$2.18 trillion. In 2013, total federal receipts were $2.94 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 $10 trillion?

In 2011 a country's federal receipts (money taken in) totaled $2.18 trillion. In 2013, total federal receipts were $2.94 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 $10 trillion?
a) Find the growth rate k.
k=D
(Do not round until the final answer. Then round to six decimal places as needed.)
Write the exponential function F(t).
F(t) =O
b) Estimate total federal receipts in 2015.
The total federal receipts in 2015 will be approximately S trillion.
(Use the answer from part (a) to find this answer. Round to two decimal places as needed.)
c) When will total federal receipts be $10 trillion?
years after 2011.
The total federal receipts will be $10 trillion approximately
(Use the answer from part (a) to find this answer. Round to one decimal place as needed.)

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