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Find an exponential model for these data

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Reference no: EM131143223

Business The table shows outstanding consumer credit (in billions of dollars) at the beginning of various years. (Data from: U.S. Federal Reserve.)

      Year

        Credit

1980

350.5

1985

524.0

1990

797.7

1995

1010.4

2000

1543.7

2005

2200.1

2010

2438.7

a) Find an exponential model for these data, where t = 0 corresponds to the year 1980.

b) If this model remains accurate, what will the outstanding consumer credit be in 2013 and 2016.

c) In what year will consumer credit reach $6000 Billion?

Reference no: EM131143223

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