If $2500 is placed in an investment account which pays 7% per annum, compounding annually, then the balance in the account after n years is calculated by: Select one: O a. $175n O b. $2500 x 7n O c. $2500 x 0.07 O d. $2500 x 1.07" O e. $(2500 x 1.07)"A musician purchased a new grand piano for $1?99(]. After 8 years, it will have an estimated value of $12500. If the value of the piano is depreciated using a reducingbalance method, the annual rate of depreciation, is closest to Select one: 0 a. 4.45% O b. 4.66% O c. 30.5% 0 d. 43.9% _ 0 e. 69% Suppose that the price of a magazine is $4.40 today. What will be the price of the magazine in 5 years' time if the average annual inflation rate is 10%? Select one: O a. $7.09 O b. $6.60 O c. $4.62 O d. $4.90 O e. $2.20