please show all the procedures necessary to answer the question!! i need to see all the steps to verify and answer my question

'l. {5 pts.] The scrap value of a machine is the value of the machine at the end of its useful life. By one method of calculating scrap value, where it is assumed that a constant percentage of value is lost annually, the scrap value is given by S = 0(1 r)", where U is the original cost, . is the useful life of the machine in years, and 'I" is the constant annual percentage of value lost. Find the scrap value for a machine with original cost of $16,000; 12vvear life; annual rate of value loss, 3.?96. 2. {5 pts.] The number of words per minute that an average person can type is given by W (t) = 50 Ellie5:, where t is time in months after the beginning of a typing class. Find and interpret {write a complete sentence giving meaning to your answer}: [a] \"7(0) [bl W{1} [c] Wf)