Question: Future Value Computation Sam Smith deposited $8,000 in a savings account today. The deposit will earn interest at the rate of 8%. How much will

Future Value Computation Sam Smith deposited $8,000 in a savings account today. The deposit will earn interest at the rate of 8%. How much will be available for Sam to withdraw in 3 years, assuming interest is compounded (a) annually, (b) semiannually, and (c) quarterly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar.

(a)	Annually	Answer
(b)	Semiannually	Answer
(c)	Quarterly	Answer

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