(10 points) According to WSJ, friends and relatives of young Warren Buffet regularly heard him complaining that he did not want to spend $300,000 for his haircut. Back in the day, a haircut would cost Mr Buffet around $0.5. For how long do you need to compound the haircut price to justify Mr Buffet's complaints? Give answers assuming that interest rate is 1%, 5%, and 10%. What if you use simple interest rate? (15 points) You have $100 and think where to invest your money. You have three options. Option A promises you a weekly interest rate of 0.3%, compounded weekly. Option B promises a 16% annual interest rate with one payment at the end of each year. Finally, option C has a quoted annual rate of 15% with quarterly compounding. Assume that a year consists of 52 weeks. (a) (3 points) What are APRs of the three investment opportunities? (b) (6 points) Rank these investment opportunities by their attractiveness to you. (c) (6 points) How much more will earn over 10 years if you invest in your most preferable option relative to your least preferable option