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Online Program\(S=161,400{\left(1+\frac{16.9}{100}\right)}^t\)
The mean annual salary of an NBA player, S, can be estimated using the equation above, where S is measured in thousands of dollars, and t represents the number of years since 1980 for \(0\le t\le 20\). Which of the following statements is the best interpretation of 16.9 in the context of this problem?