put into linear equation using slope intercept:

Question

assume that population growth is a linear function that
grows at a steady, unchanging rate of 0.9% per year, and that debt growth is a linear
function that grows at a steady, unchanging rate of 13% per year.

population= 317,000,000

national debt= 17,000,000,000

 

Answer 1

The population and the debt do not increase linearly. Each year is a percentage (greater than 1) of the previous year.

For the debt year two is 1.13 times years one, year three is 1.13 times year two, and so on....

 

The formula for the debt would be

 

d = 17,000,000,000(1.13)^t

 

In year 30:

 

d = 17,000,000,000(39.1158980)

d = 664,970,265,000