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?