U.S. health-care expenditures have been growing exponentially during the past two decades. In 2008, expenditures were 2.4 trillion dollars with a growth rate of 9%. Lawmakers hope to decrease the annual growth rate to 2%. Compare the two rates graphically and algebraically as follows. (a) For each growth rate, find an exponential model for the health-care expenditures t years since 2008. f9%(t) = f2%(t) = (c) Find the predicted health-care expenditures in 2020 for each model. (Round your answer to two decimal places.) f9%(12) = trillion dollars f2%(12) = trillion dollars
U.S. health-care expenditures have been growing exponentially during the past two decades. In 2008, expenditures were 2.4 trillion dollars with a growth rate of 9%. Lawmakers hope to decrease the annual growth rate to 2%. Compare the two rates graphically and algebraically as follows. (a) For each growth rate, find an exponential model for the health-care expenditures t years since 2008. f9%(t) = f2%(t) = (c) Find the predicted health-care expenditures in 2020 for each model. (Round your answer to two decimal places.) f9%(12) = trillion dollars f2%(12) = trillion dollars
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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U.S. health-care expenditures have been growing exponentially during the past two decades. In 2008, expenditures were 2.4 trillion dollars with a growth rate of 9%. Lawmakers hope to decrease the annual growth rate to 2%. Compare the two rates graphically and algebraically as follows.
(a) For each growth rate, find an exponential model for the health-care expenditures t years since 2008.
| f9%(t) | = |
|
| f2%(t) | = |
|
(c) Find the predicted health-care expenditures in 2020 for each model. (Round your answer to two decimal places.)
| f9%(12) | = | trillion dollars |
| f2%(12) | = | trillion dollars |
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