Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2011 a country's federal receipts (money taken in) totaled $2.38 trillion. In 2013, total federal receipts were $2.78 trillion. Assume that the growth of

image text in transcribed
In 2011 a country's federal receipts (money taken in) totaled $2.38 trillion. In 2013, total federal receipts were $2.78 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). 3) 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 $11 trillion? 3) Find the growth rate k. k=j (Do not round until the nal answer. Then round to six decimal places as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Mathematics questions