Question

Suppose that y = 37,000(1.005)x represents the median household income in the U.S. , where x represent the number of years after 1980. What was the median household income in 1980 (x = 0)?


$37,000

$37,185

$74,000

$35,238

Answer 1

I'm assuming x is an exponent? In that case, we know that x = 0 and that a number raised to the power of 0 is equal to 1, so the equation becomes y=37,000(1) .