Question 1 Sione just landed a great job as an engineer where he will make $55,000 a year. The

company he will work for guarantees a 3% pay increase each year so it's employees

salaries keep up with inflation. At the end of the 1* year Slone will have made $55,000

dollars.

1. What is the recursive function that will represent this situation?

a. m(t) = m(t - 1) + 0.03, m(1) = 55000

b. m(t) = m(t-1). 0.03, m(1) - 55000

c. m(t) = m(t-1) + 1.03, m(1) - 55000

d. m(t) = m(t-1). 1.03, m(1) = 55000