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43 votes
43 votes
Write a function s(t) that represents the situation. Your starting annual salary of $45,000 increases by 3% each year. We have to write it in y=a(1-r)^t format wherea: the initial amountt: the time period(1-r): the decay factor.

User Rathish Cholarajan
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1 Answer

18 votes
18 votes

The function will be a compund interest


\begin{gathered} S(t)=P(1+r)^t \\ S(t)\text{ is the amount after t years} \\ P\text{ is the initial deposit} \\ r\text{ is the rate in \%} \\ t\text{ is the time in years} \end{gathered}

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