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

$4,000

is deposited initially at

11%

annual interest for

8

years, and (2) determine the effective annual rate

(EAR).

Annual Compounding

(1) The future value,

FVn,

is

$nothing.

(Round to the nearest cent.)(2) If the

11%

annual nominal rate is compounded annually, the EAR is

nothing%.

(Round to two decimal places.)

Semiannual Compounding

(1) The future value,

FVn,

is

$nothing.

(Round to the nearest cent.)(2) If the

11%

annual nominal rate is compounded semiannually, the EAR is

nothing%.

(Round to two decimal places.)

Quarterly Compounding

(1) The future value,

FVn,

is

$nothing.

(Round to the nearest cent.)(2) If the

11%

annual nominal rate is compounded quarterly, the EAR is

nothing%.

(Round to two decimal places.