Question: What's the best way to solve this problem? Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $6,000

What's the best way to solve this problem?

Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $6,000 is deposited initially at 8% annual interest for 8 years, and (2) determine the effective annual rate (EAR). ' W Annual Compounding (1) The future value, FVn, is $D. (Round to the nearest cent.) (2) if the 8% annual nominal rate is compounded annually, the EAR is [1%. (Round to two decimal places.) Semiannual Compounding (1) The future value, FVn, is $11. (Round to the nearest cent.) (2) If the 8% annual nominal rate is compounded semiannually, the EAR is D%. (Round to two decimal places.) Quarterly Compounding (1) The future value, Fvn, is $D. (Round to the nearest cent.) (2) If the 8% annual nominal rate is compounded quarterly. the EAR is [1%. (Round to two decimal places.)

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