Write the exponential function $y = 7 (1.24)^{t}$ in the form $y = ae^{kt}$.

(a) Once you have rewritten the formula, give $k$ accurate to at least four decimal places.
$\ k =$ help (numbers)

If $t$ is measured in years, indicate whether the exponential function is growing or decaying and find the annual and continuous growth/decay rates. The rates you determine should be positive in the case of growth or decay (by choosing decay the negative rate is implied).

(b) The annual ? growth decay rate is % per year (round to the nearest 0.01%).