Let us assume that Batts will invest $30,200 each year for next 30 years. Assuming the interest rate will be 10.4% and that it will compound annually, what will be the investment's future value 30 years from now? Assume that Batts will make the first investment next year, or one year from now. $9,246,256,35 $5,610,245.24 $5,359,591,01 $3,236,240.24 How will your answer from Question 11 change if the interest rate compounds semiannually? $2,679,790.50 $5,789,817.17 $10,245,633.43 $7,326,325.35 Assuming the nominal interest rate (APR) of 12%, what is the effective annual rate (EAR) when the interest rate compounds semiannually? 12.00% 12.52% 12.48% 12.36%