, Exercise 3-12 (Algo) Compare investment alternatives LO 3-2 An Investor has accumulated $7,700 and is looking for the best rate of return that can be earned over the next year. A bank savings account will pay 9%. A one-year bank certificate of deposit will pay 11%, but the minimum investment is $10,700 Required: a. Calculate the amount of return the Investor would earn if the $7,700 were invested for one year at 9%. b. Calculate the net amount of return the investor would earn if $3,000 were borrowed at a cost of 19%, and then $10,700 were invested for one year at 11% c. Calculate the net rate of return on the investment of $7,700 if the investor accepts the strategy of part b Note: Round your answer to 2 decimal places. nit a. Amount of return $ b. Net amount of return ences c. Net rate of return %