Solve clearly

Given an annual Interest rate = 7%, calculate the effective interest rate for the number of compounding sub-periods shown below. Then calculate the future worth of the glven present lump sum, using the effective interest rate and the given number of years (5 points). 0 Calculate F using in , and n = the number ofyears. - Recalculate F using i = r/m , and n = the total number of sub periods. a Show your work. it Sub-Periods f Present Sum ii of ears Per Year ' y