Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help Solve. Show Work. In 2011 a country's federal receipts (money taken in) totaled $2.40 trillion. In 2013, total federal receipts were $2.84 trillion. Assume

Help Solve. Show Work.

image text in transcribed
In 2011 a country's federal receipts (money taken in) totaled $2.40 trillion. In 2013, total federal receipts were $2.84 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 $9 trillion? a) Find the growth rate k. k =] (Do not round until the final answer. Then round to six decimal places as needed.) Write the exponential function F(t). F(1) = b) Estimate total federal receipts in 2015. The total federal receipts in 2015 will be approximately $ 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 $9 trillion? The total federal receipts will be $9 trillion approximately years after 2011. (Use the answer from part (a) to find this answer. Round to one decimal place as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to Analysis

Authors: William R. Wade

4th edition

132296381, 978-0132296380

More Books

Students also viewed these Mathematics questions