(An Interest in Growth Models MC)Two people are placing a pr…

(An Interest in Growth Models MC)Two people are placing a principal investment of $9,050 in separate savings accounts with 6.12% annual interest. Account A uses simple interest, while account B uses annually compounded interest. Which account can be modeled exponentially, and what is the balance after 11 years?

(An Interest in Growth Models HC)Two people are placing a pr…

(An Interest in Growth Models HC)Two people are placing a principal amount of $3,425 in a savings account with 6.71% annual interest for 16 years. Account A uses quarterly compounded interest, while Account B uses continuously compounded interest.Part A: Which type of function best models each account? Support your answer using complete sentences. (2 points)Part B: What is the APY for account A? Show all necessary steps. (4 points)Part C: What is the APY for account B? Show all necessary steps. (4 points)