Question

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.

Answer 1

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}`