If the number B of federally insured banks could be approximated by B ( t ) = − 329.4 t + 13747 from 1985 to 2007 where t = 0 correspond to year 1985
In order to determine the amount of federally insured banks that were there in 1990, we will first calculate the year range from initial time 1985 till 1990
The amount of time during this period is 5years. Substituting t = 5 into the modeled equation will give;
B ( t ) = − 329.4 t + 13747
B(5) = -329.4(5) + 13747
B(5) = -1647+13747
B(5) = 12100
This shows that there will be 12100 federally insured banks are there in the year 1990.
