Question 1. Clauncher purchased a bond for $2500 to preserve a wildlife sanctuary, and 9 months later he sold it for $2689. (a) What annual rate, calculated using simple interest, did he earn on this transaction? Answer in percent form and round two decimal places. (b) What annual rate would he have to earn in a savings account compounded monthly to earn the same money on his investment? (c) With the annual rate found in Exercise 1 Part (a) and the Future Value using Simple Interest formula find how much the bond would be if Clauncher waited the entire year. (d) With the annual rate found in Exercise 1 Part (b) and the Compound Interest Formula with a compound monthly, find how much would the bond be if Clauncher waited the entire year