QuestionThe table shows the total personal income in the United States (in billions of dollars) for selected years from 1960 and projected to 2024. \begin{tabular}{cc|cc} \hline Year & Income (\ billions) & Year & Income (\$ billions) \\ \hline 1960 & 411.5 & 2008 & 12,100.7 \\ 1970 & 838.8 & 2014 & 14,728.6 \\ 1980 & 2307.9 & 2018 & 19,129.6 \\ 1990 & 4878.6 & 2024 & 22,685.1 \\ 2000 & 8429.7 & & \\ \hline \end{tabular} (a) These data can be modeled by an exponential function. Write the equation of this function, with x$as the number of years past 1960 and$y$as the total$$y=533.570 \cdot 1.065^{x} \quad \text { Way to gol }$$ (b) Does the unrounded model overestimate or underestimate the total personal income given in the table for 2018? The model overestimates the projected total. The model underestimates the projected total.
Perfect (c) Graphically determine the year the model predicts total personal income will reach $\$ 31$ trillion. $\square$ Enter a number: Need Help? Read II Watch it