a. Calculate the future sum of $7,000, 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? a. What is the future sum of $7.000 in a bank account for 8 years at an APR of 6 percent? (Round to the nearest cent)