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In this exercise, we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 918,700, and the population was increasing at roughly 9700 people per year. The average annual income was $29,001 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999. (Round your answer to three decimal places.) $ billion per year

In this exercise, we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 918,700, and the population was increasing at roughly 9700 people per year. The average annual income was $29,001 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999. (Round your answer to three decimal places.) $ billion per year

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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In this exercise, we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 918,700, and the population was increasing at roughly 9700 people per year. The average annual income was $29,001 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999. (Round your answer to three decimal places.) billion per year
Transcribed Image Text:In this exercise, we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 918,700, and the population was increasing at roughly 9700 people per year. The average annual income was $29,001 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999. (Round your answer to three decimal places.) billion per year
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