Chapter 4.2, Problem 12E

In the following exercises, find the exponential model as follows: If you do not have suitable technology, use the first and last data points to find a function. (See Examples 3 and 4.) If you have a graphing calculator or other suitable technology, use exponential regression to find a function. (See Example 4.)

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

Find the 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 2020 and 2025?

What is the first full year where consumer credit exceeds $6500 billion?

Year	Credit
1980	350
1985	524
1990	798
1995	1010
2000	1539
2005	2197
2010	2544
2015	330