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Determine the amount of money in a savings account at the end of three years,...

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Finance

Determine the amount of money in a savings account at the end of three years, given an initial deposit of $9,000 and an 4 percent annual interest rate when interest is compounded (a) annually, (b) semiannually, and (c) quarterly. (Use a Financial calculator to arrive at the answers. Round the final answers to the nearest whole dollar.)

Future value
a. Annually $
b. Semiannually $
c. Quarterly $

Calculate the effective annual interest rate of each compounding possibility. (Use a Financial calculator to arrive at the answers. Round the final answers to 2 decimal places.)

Effective annual interest rate
a. Annually %
b. Semiannually %
c. Quarterly %

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