A simpler approach like the one Ioannis Filippidis do :
import matplotlib.pyplot as plt
import numpy as np
# evenly sampled time at 200ms intervals
tMin=-1 ;tMax=10
t = np.arange(tMin, tMax, 0.1)
# red dashes, blue points default
plt.plot(t, 22*t, 'r--', t, t**2, 'b')
factor=3/4 ;offset=20 # text position in view
textPosition=[(tMax+tMin)*factor,22*(tMax+tMin)*factor]
plt.text(textPosition[0],textPosition[1]+offset,'22 t',color='red',fontsize=20)
textPosition=[(tMax+tMin)*factor,((tMax+tMin)*factor)**2+20]
plt.text(textPosition[0],textPosition[1]+offset, 't^2', bbox=dict(facecolor='blue', alpha=0.5),fontsize=20)
plt.show()