Approximately what interest rate would be needed in order to grow and investment of $1400 to $2500 in 10 years if the interest was compound monthly? A 5.88% B ,5.84%

9 Suppose you invested $500 in a local credit union and: f(t) gives the future value of the investment in t years, if the APR is 2% and interest is compounded quarterly. • g(t) gives the future value of the investment in t years, if the APR is 2% and interest is compounded monthly. h(t) gives the future value of the investment in f years, if the APR is 2% and interest is compounded continuously. a. Write a function rule for f(t). For g(t). For h(t). Then describe how the rules are similar and how they are different. b. Based on your understanding of exponential growth, describe how the graphs of f(t), g(t), and h(t) are similar, and how they are different. c. On the same coordinate grid, use algebraic reasoning to sketch graphs of the three functions. .

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You are working on a project, that is using a yearly nominal interest rate of 15% per year, which is being compounded on a monthly basis. What is the effective quarterly rate? 16.08% 3.75% 3.80% 15.00% 15.87%