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Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $4,000 is deposited initially at 1 1% annual interest for 6 years, and (2) determine the effective annual rate (EAR) (1) The future value, FVn is (Round to the nearest cent) (2 If the 11% annual nominal rate is compounded annually, the EAR is 96 Round to two decimal places. (1) The future value, FVn, is S(Round to the nearest cent.) (2) If the 11% annual nominal rate is compounded semiannually, the EAR is Quarterly Compounding (1) The future value, Vn, is (Round to the nearest cent.) (2) If the 11% annual nominal rate is compounded quarterly, the EAR is % %. (Round to two decimal places.) (Round to two decimal places)

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