Question

The amount of freight transported by rail in the united states was about 580 billion ton-miles in 1960 and has been increasing at a rate of 2.32% per year since then. write a function representing the amount of freight in billions of ton-miles, transported annually (1960=year0)

Answer 1

580 x 1.0232^n where n is equal to the year in question less 1960 as 1960 is the reference year.