Changing compounding frequency Using annual, semiannual, and quarterly compounding periods. (1) calculate the future value $8,000 is deposited initially at 8% annual interest for 8 years, and (2) determine the effective annual rate (EAR). Annual Compounding (1) The future value, FV, S (Round to the nearest cont.) (2) if the 8% annual nominatrate is compounded annually, the EAR is % (Round to two decimal places.) Semiannual Compounding (1) The future value, FV. i$ (Round to the nearest cent) (2) the 8% annual nominal rate is compounded semiannually, the EAR IN D% (Round to two decimal places.) Quarterly Compounding (1) The future value, FV. $ (Round to the nearest cent.) if the 8% annual nominal rate is compounded quarterly, the EAR IS % (Round to two decimal places.)