Question
The table shows the total assets (in trillions) held in a foreign bank for the given years. Complete parts (a) through (c) below. Year 2000
The table shows the total assets (in trillions) held in a foreign bank for the given years. Complete parts (a) through (c) below.
Year | 2000 | 2005 | 2007 | 2009 | 2011 | 2013 | 2015 |
---|---|---|---|---|---|---|---|
Assets | 16 | 43 | 53 | 78 | 118 | 151 | 198 |
(a) Find an exponential model of the form
f(t)=y0bt for these data, where t=0 corresponds to the year 2000. If you do not have suitable technology, use the first and last data points to find a function. If you have a graphing calculator or other suitable technology, use exponential regression to find a function.
The exponential model for the data is
f(t)=t.
(Round to three decimal places as needed.)
(b) Assume the model remains accurate and predict the total assets in 2018 and 2021.
(c) Use a graphing calculator (or trial and error) to determine the first full year in which the total assets exceed 450 trillion.
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