The median family income is the "middle income: - half the families have this income or more, and half have a lesser income. The median family income can be approximated by: f(x) = 18,724.85 + 13,530.74 ln x (x is greater than or equal to 5) where x=5 corresponds to the year 1995.

a) What was the median family income in 2009? What is it this year?

b) If this model remains accurate, when will the median family income reach $62,500?

Question

The median family income is the "middle income: - half the families have this income or more, and half have a lesser income. The median family income can be approximated by: f(x) = 18,724.85 + 13,530.74 ln x   (x is greater than or equal to 5) where x=5 corresponds to the year 1995.

a) What was the median family income in 2009? What is it this year?

b) If this model remains accurate, when will the median family income reach $62,500?