Changing compounding frequency Using annual, semiannual and quarterly compounding periods (1) calculate the future value if $8,000 is deposited initially at 9% annual interest for 7 years, and (2) determine the effective annual rate (EAR) Annual Compounding (1) The future value, FV, is $(Round to the nearest cent) (2) If the 9% annual nominal rate is compounded annually, the EAR is % (Round to two decimal places) Semiannual Compounding (1) The future value, FV, is $ (Round to the nearest cent) (2) If the 9% annual nominal rate is compounded semiannually, the EARS % (Round to two decimal places) Quarterly Compounding (1) The future value, FV, is $(Round to the nearest cent.) (2) If the 9% annual nominal rate is compounded quarterly, the EAR is % (Round to two decimal places) Enter your answer in each of the answer boxes Type here to search o BI 0 N 1009 ** 3:10 PM 9/11/2020