What does the model predict for the total us personal income

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Reference no: EM131781800

Question: The total U.S. personal income I (in billions of dollars) from 1988 and projected to 2018 can be modeled by

I = 70,290/1 + 18.26e^-0.058t

where t is the number of years past 1985 (Source: U.S. Department of Labor).

(a) What does the model predict for the total U.S. personal income in 2015?

(b) When will the total U.S. personal income reach $25,000 billion?

Reference no: EM131781800

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