$9, 100 is invested in an account earning 8.1% interest

Last updated: 8/14/2022

$9, 100 is invested in an account earning 8.1% interest (APR), compounded monthly. Write a function showing the value of the account after t 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.