A newspaper for a large city launches a new advertising campaign focusing on the number of digital subscriptions. The equation S(t)=31,500(1.034)^t approximates the number of digital subscriptions S as a function of t months after the launch of the advertising campaign. Determine the statements that interpret the parameters of the function S(t).
A. The newspaper had 31,500 digital subscriptions when the advertising campaign was launched.
B. The number of digital subscriptions increases by 3.4% each month.
C. The number of digital subscriptions increases by 103.4% each month.
D. The number of digital subscriptions increases by 3.4% each year.
E. The newspaper had 32,571 digital subscriptions when the advertising campaign was launched.
