To find: The year when the gross national product is 10 trillion.
2001
Given:
An equation y=8882(1.04)x.
Concept used:
- To obtain obtain the solution using a table, look for the value of x for which the function produces the value closer to the 10 trillion.
- The x-coordinate of the intersection point of both functions represents the solution of the equation.
Calculation:
Using a table:
Suppose x=0 represents the initial year 1998 and x=1 represents 1999 and so on. Now find the value of y=8882(1.04)x at different years which is represented by x.
x | y |
0 | 8882 |
1 | 9237.88 |
2 | 9606.77 |
3 | 9991.04 |
4 | 10390.684 |
5 | 10806.311 |
According to the table, at x=3 the value of y is closer to the $10000 billions or $10 trillion. It is understood that x=3 representing the year 2001 so it can be concluded that in the year 2001 the gross national product would be $10 trillion.
Using a graph:
It is understood that $10 trillion is equivalent to $10000 billions. So,
8882(1.04)x=10000
This equation can be written as y=8882(1.04)x and y=10000 . Substitute both functions in a graphing calculator to obtain the graph.
Both the functions intersect at the point (3.023,10000) . It means this point is common in both the functions. So, the solution of the equation 8882(1.04)x=10000 is 3.023 . But the point 3.023 is representing the year 2001 it can be concluded that in the year 2001 the national gross product would be $10 trillion.
Conclusion:
In the year 2001 , the gross national product will be $10 trillion.
Chapter 4 Solutions
Holt Mcdougal Larson Algebra 2: Student Edition 2012
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