An investor has accumulated $$4,750$ and is looking for the best rate of return that can be earned over the next year. A bank savings

account will pay $6\%.$ A one$-$year bank certificate of deposit will pay $8\%,$ but the minimum investment is $$7,750.$

Required:

a$.$ Calculate the amount of return the investor would earn if the $$4,750$ were invested for one year at $6\%.$

b$.$ Calculate the net amount of return the investor would earn if $$3,000$ were borrowed at a cost of $16\%,$ and then $$7,750$ were

invested for one year at $8\%.$

c$.$ Calculate the net rate of return on the investment of $$4,750$ if the investor accepts the strategy of part $b.$

Note: Round your answer to $2$ decimal places.