Math Problem Statement

The following table gives the U.S. national debt for selected years from 1900 to 2013. Year U.S. Debt ($ billions) Year U.S. Debt ($ billions) 1900 1 1990 3233 1910 1 1996 5225 1920 24 2000 5674 1930 16 2005 7933 1940 43 2009 11,957 1945 259 2010 13,529 1955 273 2011 15,476 1965 314 2012 16,067 1975 533 2013 16,856 1985 1823 (a) Using a function of the form y = a*b^x, with x = 0 in 1900 and y equal to the national debt in billions, model the data. (Round your coefficients to four decimal places.) y =
Incorrect: Your answer is incorrect.

(b) Use the model to predict the debt in 2024. (Round your answer to the nearest billion.) $
Incorrect: Your answer is incorrect. billion

(c) Predict the year in which the debt will be $99 trillion ($99,000 billion).

Solution

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Math Problem Analysis

Mathematical Concepts

Exponential Growth
Algebra
Logarithms

Formulas

y = a*b^x (exponential model)
b = (y2 / y1)^(1/(x2-x1))
x = (ln(y) - ln(a)) / ln(b)

Theorems

Exponential Growth Model
Properties of Logarithms

Suitable Grade Level

Grades 10-12