4 Rashid invests money into an account which pays a fixed rate of compound interest each year. The value, £\(V\), of his investment after \(t\) years is given by the formula
\[V = 1250 \times 1.03^t.\]
(a) How much money did Rashid invest? [1]
(b) What rate of compound interest is paid each year? [1]
(c) Circle the graph that best represents the growth in Rashid’s account.
