Explain step by step how to solve questions 4 and 7.

4 a) In each of the algebraic models that follow, identify Initial amount Growth Rate Number of growth periods i) M(n) = (18) (1.05)22 ii) P(n) = 64 000 (1.1) 12 iii) N(n) = 750 (2)4 b) Evaluate each question in part (a) to two decimal points7. In each case, write an equation that models the situation described. a) An antique is purchased for $5000 in 1990. It appreciates in value by 3.25% each year. b) A town had 2500 residents in 1990. It grew at a rate of 0.5% per year for t years