Leslie Mosallam, who recently sold her Porsche, placed $8,000 in a savings account paying annual compound interest of 55 percent.

a.Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 33, 77, and 17 year(s).

b.Suppose Leslie moves her money into an account that pays 77 percent or one that pays 99 percent. Rework part (a) using 77 percent and 99 percent.

c.What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did?