Question: Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $6,000 is deposited initially at 9% annual interest for

Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $6,000 is deposited initially at 9% annual interest for 5 years, and (2) determine the effective annual rate (EAR).

Annual Compounding

(1) The future value, FVn, is $ ? (Round to the nearest cent.)

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