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  3. a) the luxury tax threshold in a professional spor

A) The luxury tax threshold in a professional sports league is the amount in total...

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A) The luxury tax threshold in a professional sports league is the amount in total payroll that teams must stay under to prevent being levied a competitive balance tax by the league's commissioner. One model that could be used to represent the amount of the league's luxury threshold A, in millions of dollars, t years since 2003 is A (t) = 120(1.033)'. Suppose a second model assumed that the league's luxury threshold was $117 million in 2003 and increased by 3.5% each year. How would the function A (t) change to represent the second model? (1 point) The coefficient changes from 120 to 103.5, and the base changes from 1.033 to 0.17. The function that represents the second model is A (t) = 103.5(0.17t). The coefficient changes from 120 to 103.5, and the base changes from 1.033 to 1.17. The function that represents the second model is A (t) = 103.5(1.17)t. The coefficient changes from 120 to 117, and the base changes from 1.033 to 0.035. The function that represents the second model is A (t) = 117(0.035)t. The coefficient changes from 120 to 117, and the base changes from 1.033 to 1.035. The function that represents the second model is A (t) = 117(1.035)t.

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