SOLUTION: The population of a country Dnalgne is 80 million in 1997 and increasing at a rate of 0.2 million per year. The average annual income of a person in Dnalgne during 1997 was 16000 d
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Question 263665: The population of a country Dnalgne is 80 million in 1997 and increasing at a rate of 0.2 million per year. The average annual income of a person in Dnalgne during 1997 was 16000 dollars per year and increasing at a rate of 500 dollars per year.
How quickly was the total income of the entire population rising in 1997?
I think I am supposed to use the formula ending population-beginning population/ending and do that for the income too, but I don't know how to combine the two to find the total income of the entire population. Any help would be great! Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! The population of a country Dnalgne is 80 million in 1997 and increasing at a rate of 0.2 million per year.
The average annual income of a person in Dnalgne during 1997 was 16000 dollars per year and increasing at a rate of 500 dollars per year.
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How quickly was the total income of the entire population rising in 1997?
rato of increase of income = (16000+500)/16000 = 1.03125
Income was increasing at a rate of 0.03125
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Cheers,
Stan H.
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