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a. Calculate the future sum of $2,000, given that it will be held in the bank for 8 years at an APR of 4 percent.

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a. Calculate the future sum of $2,000, given that it will be held in the bank for 8 years at an APR of 4 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 8 percent. d. Recalculate part a using a time horizon of 16 years (the APR is still 4 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? a. What is the future 5 um of $2,000 in a bank account for 8 years at an APR of 4 percent? \$ (Round to the nearest cent.)

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