Step 1 :Given that the federal receipts in 2011 (base year) is $2.12 trillion, and in 2013 it is $2.63 trillion, we can model the growth of federal receipts, $F$, by an exponential function with 2011 as the base year $(t=0)$.
Step 2 :The general form of an exponential function is $F(t) = F_0 * e^{kt}$, where $F_0$ is the initial amount, $k$ is the growth rate, and $t$ is the time.
Step 3 :Substitute $F_0 = 2.12$, $F(2) = 2.63$, and $t = 2$ into the exponential function and solve for $k$.
Step 4 :By solving, we find that the growth rate $k$ is approximately $0.107784$ to six decimal places.
Step 5 :Substitute $k$ into the exponential function, we get $F(t) = 2.12 * e^{0.107784t}$.
Step 6 :\(\boxed{0.107784}\) is the growth rate $k$ and the exponential function $F(t)$ for total receipts in trillions of dollars is $F(t) = 2.12 * e^{0.107784t}$.