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T e R Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $6,000 is deposited initially at 3%

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T e R Changing compounding frequency Using annual, semiannual, and quarterly compounding periods, (1) calculate the future value if $6,000 is deposited initially at 3% annual interest for 7 years, and (2) determine the effective annual rate (EAR) e Annual Compounding (1) The future value, FV,,.is $[_|. (Round to the nearest cent)

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