Economics APPLYING SKILLS Understanding percentages: Study the graphic and answer the questions below. Initial Investment 8.5 percent annual return Income on investment $15000 0,085 $1275.00 Value of investment in one year $15000 + 1275 $16275.00 1. How much income did the $15000 investment earn when invested at 8.5% per year? 2. If you invest $7000 and receive a 6.7% return, how much will you earn in one year? a. What would be the return after 5 years? 15 years? 3. What would be the percentage return if a $13000 investment yielded $900 in one year? 4. How much income would a $2000 investment earn when invested at 2.2% per year? a. What would be the return after 10 years? 20 years? 5. What would be the percentage return if a $9000 investment yielded $1200 in one year? The following questions are from the book: 7. If you wanted to buy stock that paid large dividends, which stock would create that outcome? 8. Why might an individual choose to borrow money from a finance company that charges higher interest rates rather than from a commercial bank with low interest rates