Homework: Chapter 5 Homework Score: 0 of 1 pt 9 of 11 (7 complete) HW Score: 29.54%, 3.25 -5-40 (similar to) 8 Question Help Comparing compounding periods Personal Finance Problem Ren Levin wishes to determine the future value at the end of 6 years of a $19,000 deposit made today into an account paying a nominal annual rate of 9%. a. Find the future value of Rene's deposit, assuming that interest is compounded (1) annually, (2) quarterly, (3) monthly, and (4) continously. b. Compare your findings in part a, and use them to demonstrate the relationship between compounding frequency and future value. c. What is the maximum future value obtainable given the $19,000 deposit, the 6-year time period, and the 9% nominal annual rate? Use your findings in part a to explain a. (1) For annual compounding, the future value of Ren's deposit is $. (Round to the nearest cent.) Enter your answer in the answer box and then click Check