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)

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 8 years, and (2) determine the effective annual rate (EAR). Annual Compounding (1) The future value, FV (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, FV (Round to the nearest cent.) (2) If the 9% annual nominal rate is compounded semiannually, the EAR is %. (Round to two decimal places.) Quarterly Compounding (1) The future value, FV (Round to the nearest cent.) (2 f the 9% annual nominal rate is compounded quarterly, the EAR is 6 Round to two decimal places

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