In 2005 the average per-capita income in the us was 34586


Question: In 2005, the average per-capita income in the US was $34,586 and increasing at a rate of r(t) = 1556.37e0.045t dollars per year, where t is the number of years since 2005.

(a) Estimate the average per-capita income in 2015.

(b) Find a formula for the average per-capita income as a function of time after 2005.

Solution Preview :

Prepared by a verified Expert
Mathematics: In 2005 the average per-capita income in the us was 34586
Reference No:- TGS02402327

Now Priced at $15 (50% Discount)

Recommended (95%)

Rated (4.7/5)