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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