Answer:
4.923%
Step-by-step explanation:
<u>Population in 1999
</u>
963,200
<u>Average annual income
</u>
$33,162 per capita
<u>Total personal income</u>
963,200* 33,162 = $31,941,638,400
<u>Population in 2000
</u>
963,200+9,300= 972,500
<u>Average annual income
</u>
$33,162+ $1,300 =$34,462 per capita
<u>Total personal income
</u>
972,500* 34,462 = $33,514,295,000
<em>We must now find a number x such that 31,941,638,400 increased x% equals 33,514,295,000
. </em>That is to say<em>,</em>
31,941,638,400*(1+x/100)= 33,514,295,000
Isolating x we have
x = 4.923%
And the rate at which total personal income was rising in the area in 1999 was 4.923%