Question

The assets (in billions of dollars) for a financial firm can be approximated by the function A(x)=318e^0.27x, where x=7 corresponds to the year 2007. Find the assets in each following years. A)2012 B) 2014 C) 2017

Answer 1

The value of the asset in 2012, 2014, and 2017 are 8119.72, 13933.55 and, 31321.23, respectively. A function assigns the values.

What is a Function?

A function assigns the value of each element of one set to the other specific element of another set.

Given the assets (in billions of dollars) for a financial firm can be approximated by the function $A(x)=318e^{0.27x}$, where x=7 corresponds to the year 2007. Therefore, the assets value in the following years will be,

A.) 2012 - $A(12)=318e^{0.27\times 12} = 8,119.72$

B.) 2014 - $A(14)=318e^{0.27\times 14} = 13,933.5$

C.) 2012 - $A(17)=318e^{0.27\times 17} = 31,321.23$

Hence, the value of the asset in 2012, 2014, and 2017 are 8119.72, 13933.55 and, 31321.23, respectively.

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