Older Americans in Debt. The debt among olderAmericans has been exponentially increasing
Chapter 5, Problem 32(choose chapter or problem)
Older Americans in Debt. The debt among olderAmericans has been exponentially increasing inrecent years. The table below lists, for selectedyears, the average debt per household, where theprimary head is age 55 or older.Year, xAverage Debt per HouseholdWhere Primary Head Is Age 55or Older2000, 0 $34,0002002, 2 38,0002004, 4 42,0002006, 6 59,0002008, 8 66,000Source: MacroMonitor, by Strategic Business Insightsa) Use a graphing calculator to fit the datawith an exponential function, where x is thenumber of years since 2000.b) Graph the function found in part (a).c) Use the function in part (a) to estimate thedebt in 2014.d) In what year is average debt among olderAmericans expected to exceed $140,000?
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