During the fifteen years he ran it, an investment firm's CEO reportedly earned an annual rate of return of over 100 percent, potentially turning an initial investment of $1 million into more than $16 million by the time he left in 1999. a. What rate of return, compounded annually, would turn $1 million into $16 million by 1999 ? b. The actual rate of return during the fifteen years the CEO ran the investment firm was 109%. How much would $1 million, compounded annually, be worth after 15 years? a. A rate of return of % would turn $1 million into $16 million. (Do not round until the final answer. Then round to the nearest hundredth as needed.)