1. 280 is invested in an account earning 7.3% interest (APR), compounded monthly. Write a function showing the value of the account after r years ,where the annual growth rate can be found from a constant in tbc 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

To find the function showing the value of the account after r years, we can use the formula for compound interest: where:- A is the amount of money accumulated after n years, including interest.- P is the principal amount (the initial amount of money).- r is the annual interest rate (in decimal).- n is the number of times that interest is compounded per year.- t is the time the money is invested for in years.In this case, the interest is compounded monthly, so n = 12.Given:- P = $280- r = 7.3% = 0.073- n = 12The function showing the value of the account after r years is: Now, let's calculate the percentage of growth per year (APY). The formula for APY is: Substituting the given values: Calculating this expression gives us the APY.Finally, round all coefficients in the function to four decimal places and the APY to the nearest hundredth of a percent.