Changing compounding

al Changing compounding frequency Using annual, semiannual, and quarterly oompounding periods, (1) calculate the future value if $7,000 is deposited initially at 9% annual interest for 6 years, and (2) determine the effective annual rate (EAR). Annual Compounding (1} The future value, FVn, is $ 11,739.70 . (Round to the nearest cent.) (2) If the 9% annual nominal rate is compounded annually. the EAR is %. (Round to two decimal places.) Semiannual Compounding (1} The future value, FVn, is $ . (Round to the nearest oent.) (2) If the 9% annual nominal rate is compounded semiannually, the EAR is "la. (Round to two decimal places.) Quarterly Compounding (1) The future value, FVn, is $ . (Round to the nearest cent.) (2) If the 9% annual nominal rate is compounded quarterly, the EAR is %. (Round to two decimal places.)