In 1968, the U.S. minimum wage was $1.60 per hour. In 1978, the minimum wage was $2.65 per hour. Assume the minimum wage grows according to an exponential model w(t), where t represents the time in years after 1960. (a) Find a formula for w(t). (Round values to three decimal places.) w(t) = (b) What does the model predict for the minimum wage in 1960? (Round your answer to the nearest cent.) (c) If the minimum wage was $5.15 in 1996, is this above, below, or equal to what the model predicts? O above O below O equal