Question

In 2003, the tax department of a country collected about 1.952 trillion dollars. From 2003 through 2008, collections increased by (approximately) 186 billion (or 0.186 trillion) dollars per year. Find a formula for tax collections as a linear function of time from 2003 through 2008. (Let n represent the number of years since 2003, and T represent the amount of tax collected in trillions of dollars.)

Answer 1

T= 1.952 + n*0.186

Explanation:

We are given

Tax collection in 2003 = 1.952Trillion dollars

Tax collection increasing every year = 0.186Trillion dollars

That means in 2004 the tax collected will be

= 1.952+0.186 = 2.138 trillion dollars

2005 = 2.138 + 0.186 = 2.324 trillion dollars and so on

we need to form an equation for this increment in tax collected

T = amount of tax collected in trillion dollars

n = represent no of years since 2003

so

T = 1.952 + n* 0.186 , where n = 0,1,2..