The equation \( y=1.55 x+110,419 \) approximates the total amount, in dollars, spent by a household to raise a child in the United States from birth to 17 years, given the household's annual income, \( x \). Assume the household's total cost of raising a child is \( \$ 197,219 \). What is the household's annual income? ( \( \$ 48,000 \) ( \( \$ 56,000 \) \( \$ 62,000 \) W \( \$ 68,000 \)

To find the household's annual income, we can set the total cost of raising a child equal to the equation given: \[ 197,219 = 1.55x + 110,419 \] Now we'll solve for \( x \): 1. Subtract \( 110,419 \) from both sides: \[ 197,219 - 110,419 = 1.55x \] \[ 86,800 = 1.55x \] 2. Now, divide both sides by \( 1.55 \): \[ x = \frac{86,800}{1.55} \approx 56,032.26 \] Since the only option that matches closely is \( \$ 56,000 \), we can conclude that the household's annual income is approximately \( \$ 56,000 \). Now you can celebrate this financial milestone with a little more confidence in your budgeting! Who knew parenting costs could be a math adventure? By the way, while the numbers might seem intimidating, managing a family budget can actually teach kids valuable lessons about saving, spending wisely, and planning for the future—they’ll be financially savvy before you know it!