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
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