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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.)
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?
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