a. Calculate the future sum of 8,000, given that it will be held in the bank for 77 years at an APR of 66 percent.

b. Recalculate part (a) using compounding periods that are (1) semiannual and (2) bimonthly (every two months).

c. Recalculate parts (a) and (b) for an APR of 12percent.

d. Recalculate part (a) using a time horizon of 14 years (the APR is still 66 percent).

e. With respect to the effect of changes in the stated interest rate and holding periods on future sums in parts (c) and (d), what conclusions do you draw when you compare these figures with the answers found in parts (a) and (b)?