Question: 33. [/4 Points] HARMATHAP12 9.6.049. PRACTICE ANOTHER If an IRA is a variable-rate investment for 15 years at rate r percent per year, compounded monthly,

33. [/4 Points] HARMATHAP12 9.6.049. PRACTICE ANOTHER If an IRA is

33. [/4 Points] HARMATHAP12 9.6.049. PRACTICE ANOTHER If an IRA is a variable-rate investment for 15 years at rate r percent per year, compounded monthly, then the future value 5 that accumulates from an initial investment of $2000 is 0.01r]18 S = 2000[1 + What is the rate of change of S with respect to r and what does it tell us if the interest rate is as follows? (Round your answers to two decimal places.) (a) 6% :] If we were to increase the rate by 1%, the future value of the investment would increase by about $ (b) 12% :] If we were to increase the rate by 1%, the future value of the investment would increase by about 3; Need Help? _' Show My Work (Optional) 0

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