The amount of money (in billions of dollars) lent to customers with credit scores below 620 for subprime mortgages can be

Question

The amount of money (in billions of dollars) lent to customers with credit scores below 620 for subprime mortgages can be approximated by the function
g(x) = 290.8 e^(− 0.24x) where x = 1 corresponds to the year 2001.

(a) Find the value of subprime mortgage lending in 2016 for the described customer base.
(b) If the trend continues, what is the first full year in which subprime lending falls below $5 billion?
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(a) Which of the following describes how to find the value of subprime mortgage lending in 2016 using the given information? Select the correct choice belo
fill in the answer box to complete your choice.
(Type an integer or a decimal.)
A. To find the value of subprime mortgage lending in 2016, substitute for x and evaluate to find g(x).
and y=
 B. To find the value of subprime mortgage lending in 2016, find the intersection point of the graphs y = 290.8 e^− 0.24x 
mortgage lending in 2016 is represented by the y-coordinate.
The value of subprime
In 2016, the assets are about $ billion.
(Type an integer or decimal rounded to the nearest hundredth as needed.)

Kunduz · Accepted Answer

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