You plan to invest $2,000 in an individual retirement arrangement (IRA) today at a nominal annual rate of 8%, which is expected to apply to all future years. a. How much will you have in the account at the end of 11 years if interest is compounded (1) annually, (2) semiannually, (3) daily (assume a 365-day year), and (4) continuously? b What is the effective annually rate EAR, for each compounding period in part a? c. How much greater will your IRA balance be at the end of 11 years if interest is compounded rather than annually? d. How does the compounding frequency affect the future value and effective annual rate for a given deposit? Explain in terms of your findings in parts a through c. a.(1) The amount you will have in the account at the end of 11 years if interest is compounded annually is $4663.28 (2) The amount you will have in the account at the end of 11 years if interest is compounded semiannually is $4739.84 3) The amount you will have in the account at the end of 11 years if interest is compounded daily is $4, 82.33. 3) The amount you will have in the account at the end of 11 years if interest is compounded continuously is $4, 821.80. (4) The amount you will have in the account at the end of 11 years if interest is compound continuously is $