Question: Use the following information to answer the next question. Sam deposits $100 into a savings account that pays 2.4%/a, compounded monthly. A function that models

Use the following information to answer the next question. Sam deposits $100 into a savings account that pays 2.4%/a, compounded monthly. A function that models the growth of the deposit is y = 100 (1 4 9.024 12 where x = number of months and y = value of investment, in dollars. 4. a. Determine how long it will take for the investment to be worth at least $150 at 2.4%/a, compounded monthly. (2 marks) b. Modify the exponential function to reflect an interest rate of 4%/a, compounded quarterly. (also state what x will represent) (2 marks) y =100 1+ - ,where x =

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