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Suppose the government decides to issue a new savings bond thatis guaranteed to double in value if you hold it for 16 years.Assume you purchase a bond that costs $75. a. What is the exactrate of return you would earn if you held the bond for 16 yearsuntil it doubled in value? (Do not round intermediate calculationsand enter your answer as a percent rounded to 2 decimal places,e.g., 32.16.) b. If you purchased the bond for $75 in 2017 at thethen current interest rate of .21 percent year, how much would thebond be worth in 2025? (Do not round intermediate calculations andround your answer to 2 decimal places, e.g., 32.16.) c. In 2025,instead of cashing in the bond for its then current value, youdecide to hold the bond until it doubles in face value in 2033.What annual rate of return will you earn over the last 8 years? (Donot round intermediate calculations and enter your answer as apercent rounded to 2 decimal places, e.g., 32.16.)