Disposable income, the amount of income remaining after taxes have been paid, is one measure of the health of the economy.
The U.S. real disposable income per capita (in dollars) can be approximated by the equation
I=695.2t+37,020I=695.2t+37,020
where t is the number of years after 2010.
(a) What t-value corresponds to the year 2020?
(b) Find the predicted U.S. per capita real disposable income in 2020.
(c) In what year is the U.S. per capita real disposable income expected to reach $50,000?