P5-41 Changing compounding frequenc

Using annual, semiannual, and quarterly compounding frequencies for each of the following, (1) calculate the future value if $5,000 is deposited initially, and (2) determine the effective annual rate (EAR).

a) At 12% annual interest for five years.

b) At 16% annual interest for six years.

c) At 20% annual interest for ten years.