This is the general formula for compound interest: A=P(1+r/n) ^nt This is the general formula for continuous growth decay: A=Pe^rt For each problem: a. State whether the problem is an example of growth or decay. b. Solve the problem, showing all work leading to your answer. c. Write 2-3 sentences to explain the meaning of the answer for the situation in the problem. 1- A saving account with a current balance of $5,000 earns 2.75% annual interest compounded continuously. To the nearest dollar, what will be the account balance in 10 years. 2- The value of a new car decreases exponentially. Suppose you buy a new car for $32,000, and the value of the car decrease at a rate of 20% per year. Find the value of the car after 5 years. Round the answer to the nearest thousand dollars. 3- Suppose you deposit $10,000 into a saving account with 3.5% compound interest compounded each month. Find the account balance in 50 years. Round the answer to the nearest thousand dollars. 4- On January 1, 2010, the population of a small town called Riley was 1,250. Its population has been decreasing at a steady rate of 8% per year. According to this model, what was Riley's population on January 1, 2000? Round the answer to the nearest person. Use the compounding formula. 5- Create your own original problem, use exponential growth and decay to find the answer. Show all the work