Question: Between 2 0 0 6 2 0 0 6 and 2 0 1 6 , the number of applications for patents, N , grew by

Between
20062006
and2016, the number of applications for patents, N, grew by about
3.13.1%
per year. That is,
Upper N prime left parenthesis t right parenthesisN(t)equals=0.0310.031Upper N left parenthesis t right parenthesisN(t).
a)
Find the function that satisfies this equation. Assume that
tequals=0
corresponds to
20062006,
when approximately
453,000453,000
patent applications were received.
b)
Estimate the number of patent applications in
20202020.
c)
Estimate the rate of change in the number of patent applications in
20202020.

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