22. Per capita income. In 2009, U.S. per capita personal income I was $48,040. In 2012, it was $52,430. (Source data.worldbank.org.) Assume that the growth of U.S. per capita personal income follows an exponential model. a) Letting i = 0 be 2009, write the function. b) Predict what U.S. per capita income will be in 2020. c) In what year will U.S. per capita income be double that of 2009?
22. Per capita income. In 2009, U.S. per capita personal income I was $48,040. In 2012, it was $52,430. (Source data.worldbank.org.) Assume that the growth of U.S. per capita personal income follows an exponential model. a) Letting i = 0 be 2009, write the function. b) Predict what U.S. per capita income will be in 2020. c) In what year will U.S. per capita income be double that of 2009?
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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
Transcribed Image Text:22. Per capita income. In 2009, U.S. per capita personal
income I was $48,040. In 2012, it was $52,430. (Source
data.worldbank.org.) Assume that the growth of U.S.
per capita personal income follows an exponential
model.
a) Letting i = 0 be 2009, write the function.
b) Predict what U.S. per capita income will be in 2020.
c) In what year will U.S. per capita income be double
that of 2009?
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