Changing compounding frequency Using annual semiannual, and quarterly compounding periods, (1) calculate the future value if $7,000 is deposited initially at 12% annual interest for 7 years, and (2) determine the effective annual rate (AR) derual Compounding (1) The future value, FV is (Round to the nearest cent) (2) If the 12% annual nominal rate is compounded annually, the EARs (Round to two decim places) Semiatual Compounding (1) The future value, FV. (Round to the nearest cent) (2) if the 12% annual nominal rate is compounded semiannuity, the EAR (Round decimal places) Quarterly Compounding (1) The future value. FV sound to the nearest cent) (2) if the 12% annual nominal rate is compounded quartery, the EAR is (Round to decimal places)