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Using annual semiannual and quarterly compounding periods 1

Question: Using? annual, semiannual, and quarterly compounding? periods, (1) calculate the future value if ?$6,000 is deposited initially at 11% annual interest for 5 ?years, and? (2) determine the effective annual rate ?(EAR?). 1. For quarterly? compounding, the future? value, is _________$. (Round to the nearest cent). 2. If the 11% annual nominal rate is compounded quarterly, the EAR is _________%. Round to two decimal places.

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Finance Basics: Using annual semiannual and quarterly compounding periods 1

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