- COLLECTIONS Keandra is comparing the growth rates in the value of two items in a
collection. The value of a necklace increases by 3.2% per year. The value of a ring increases
by 0.33% per month.
a. Write a function to represent the value A of the necklace after t years, assuming an initial
value of $1. Then write an equivalent function that represents monthly compounding.
b. Which item is increasing in value at a faster rate? Explain.
c. What is the approximate annual rate of growth of the ring? How does your result relate to
your answer to part b?