1. Write down the general form of the exponential and the three possible cases of b (using numeric inequalities) with a description of what the graph looks like for these three cases. pts.) Some important applications of exponentials relate to simple and compounding interest. The formulas are as follows. Summary of Formulas Relating to Simple and Compound Interest Suppose that P dollars in principal is invested (or borrowed) at an annual interest rate for years. Then 1 = Prt A P1+ = P(1 + =)" (1) A = Pert Amount of simple interest / (in $). The future value A (in $) of the account after years with n compounding periods per year. The future value A (in $) of the account after years under continuous compounding. Go to your internet browser and search for bank interest rates. 2. a) Create a scenario where you decide to deposit money in the bank for savings. There are many choices. Ask yourself "do want a big interest rate or a small one"? Note: APY is the annual percentage yield when compounding happens every day. State the scenario along with the name of the bank you are depositing the money at, the interest rate and how many times the money will be compounded (choose between once, quarterly, monthly, daily or continuously). Also state the amount and how long you will leave the money in the bank. (6 pts.) b) Calculate the total amount you will have in the bank at the end of this time period using one of the formulas above. (6 pts.) c) Scroll down to page 374 and select Animation: Investigating the effect of P rt and n on the amount of interest earned. Change the values of Prt and n to match your scenario above. Take a screen shot of the animation! (3 pts.) To compare your problem vs the transformation of an exponential function, f(x) = abx-h+k,