1. BORROWING MONEY You borrowed $5000 from your parents to purchase a used car. The arrangements of.

1. BORROWING MONEY You borrowed $5000 from your parents to purchase a used car. The
arrangements of the loan are such that you will make payments of $250 per month
plus 1% interest on the unpaid balance.

(a) Find the first years monthly
payments you will make, and the unpaid balance after each month.

(b) Find the total amount of
interest paid over the term of the loan.

2. DATA ANALYSIS: PERSONAL INCOME The table shows the per capita personal income in the United States
from 2002 through 2008. (Source: U.S. Bureau of Economic Analysis)

1. BORROWING MONEY You borrowed $5000 from your parents to purchase a used car. The
arrangements of the loan are such that you will make payments of $250 per month
plus 1% interest on the unpaid balance.

(a) Find the first years monthly
payments you will make, and the unpaid balance after each month.

(b) Find the total amount of
interest paid over the term of the loan.

2. DATA ANALYSIS: PERSONAL INCOME The table shows the per capita personal income in the United States
from 2002 through 2008. (Source: U.S. Bureau of Economic Analysis)

(a) Find an arithmetic sequence
that models the data. Let represent the year, with corresponding to 2002.

(b) Use a graphing utility to
graph the terms of the finite sequence you found in part (a).

(c) Use the sequence from part (a)
to estimate the per capita personal income in 2009.

(d) Use your schools library, the
Internet, or some other reference source to find the actual per capita personal
income in 2009, and compare this value with the estimate from part (c).

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