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

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

  • Find an exponential model for these data, where t = 0 corresponds to the year 1980.
  • If this model remains accurate, what will the outstanding consumer credit be in 2013 and 2016.
  • In what year will consumer credit reach $6000 Billion?
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 exponen±al 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?
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