$320 is invested in an account earning 8.1% interest (APR), compounded quarterly. Write a function showing the value of the account after tt years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent

Step-by-step explanation:

Given that:

The investment amount in account = $ 320

The rate of interest is = 8.1% compounded quarterly

Compunded quarterly means  8.1% / 4  = 0.02025

The time period = t years

The objective is to write a function showing the value of the account after t years.

From compound interest , compounded monthly.

Thus; the function after t years

The percentage of growth per year is :

= (1 + 0.02025)^4 - 1

= 1.083493758 - 1

= 0.083493758

= 8.4 % (APY) yearly

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