Solution-Find an exponential model for these data

Find an exponential model for these data

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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Find an exponential model for these data

Reference no: EM131143223

Reference no: EM131143223

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