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(Compound interest with nonannual periods) a. Calculate the future sum of $8,000, given that it will be held in the bank for 8 years at an APR of 6 percent. b. Recalculate part a using compounding periods that are (1) semiannual and (2) bimonthly (every two months). c. Recalculate parts a and b for an APR of 12 percent. d. Recalculate part a using a time horizon of 16 years (the APR is still 6 percent). e. With respect to the effect of changes in the stated interest rate and holding periods on future sums in parts c and d, what conclusions do you draw when you compare these figures with the answers found in parts a and b? BOCH a. What is the future sum of $8,000 in a bank account for 8 years at an APR of 6 percent? (Round to the nearest cent.)