As a teenager, Enrique leamed a valuable lesson from his dad, who told him to invest $1,000 at 58 percent interest at age 20 and leave the money alone until age 65. Enrique's dad knew that one plan. Enrique is happy to apply his dad's advice. (use this information for problem 8 and 9) 8) If he sticks to the plan, Enrique's savings will grow to approximatelyby age 62. 9) Suppose the annual rate of return is 15 percent. At this rate, when will Enrique reach the $500,000 mark? A) Age 45 B) Age 58 C) Age 65 D) Age 70 10) What is the maximum that you would be willing to loan your brother for a $100 IOU if he promises to pay you back at the end of the year? You want to earn an annual rate of return of 12% A) $82.00 B) $89.29 C) $92.73 D) $88.00