Solution Found!
Money The total amount of money in circulation for the
Chapter 4, Problem 58A(choose chapter or problem)
Problem 58A
Money The total amount of money in circulation for the years 1950–2009 can be closely approximated by
M(t) = 0.005209t3 − 0.04159t2 − 0.3664t + 34.49
where t represents the number of years since 1950 and M(t) is in billions of dollars. Find the derivative of M(t) and use it to find the rate of change of money in circulation in the following years. Source: U.S. Treasury.
a. 1960
b. 1980
c. 1990
d. 2000
e. What do your answers to parts a–d tell you about the amount of money in circulation in those years?
Questions & Answers
QUESTION:
Problem 58A
Money The total amount of money in circulation for the years 1950–2009 can be closely approximated by
M(t) = 0.005209t3 − 0.04159t2 − 0.3664t + 34.49
where t represents the number of years since 1950 and M(t) is in billions of dollars. Find the derivative of M(t) and use it to find the rate of change of money in circulation in the following years. Source: U.S. Treasury.
a. 1960
b. 1980
c. 1990
d. 2000
e. What do your answers to parts a–d tell you about the amount of money in circulation in those years?
ANSWER:
SOLUTION:
Step 1 of 7:
In this question, the total amount of money in circulation for the years 1950–2009 can be closely approximated by . Where represents the number of years since 1950 and is in billions of dollars. Find the derivative of and use it to find the rate of change of money in circulation in the following years. (a) 1960 (b) 1980 (c) 1990 (d) 2000 (e) Mention what the answers to parts a–d tell you about the amount of money in circulation in those years.
