Question: Changing compounding frequencyUsing annual, semiannual, and quarterly compounding periods, (1) calculate the future value if$ is deposited initially at % annual interest for years, and

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

Annual Compounding

(1) The future value, , is $ nothing. (Round to the nearest cent.)

(2) If the % annual nominal rate is compounded annually, the EAR is nothing%. (Round to two decimal places.)

Semiannual Compounding

(1) The future value, , is $ nothing. (Round to the nearest cent.)

(2) If the % annual nominal rate is compounded semiannually, the EAR is nothing%. (Round to two decimal places.)

Quarterly Compounding

(1) The future value, , is $ nothing. (Round to the nearest cent.)

(2) If the % annual nominal rate is compounded quarterly, the EAR is nothing%. (Round to two decimal places.)

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