The table shows the total personal income in the United

Last updated: 3/28/2023

The table shows the total personal income in the United States in billions of dollars for selected years from 1960 and projected to 2024 Year Income billions Year Income billions 1960 411 5 2008 12 100 7 1970 838 8 14 728 6 1980 19 129 6 22 685 1 2307 9 4878 6 8429 7 2014 2018 2024 1990 2000 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 personal income in billiom Round your numerical values to three decimal places y 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 c Graphically determine the year the model predicts total personal income will reach 63 trillion