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Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $8,000 is deposited initially at 8% annual interest for

Changing compounding frequency

Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if

$8,000 is deposited initially at 8% annual interest for 5years, and (2) determine the effective annual rate (EAR).

I am unable to find the

8% annual nominal rate is compounded semiannually, the EAR is

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