Compounding frequency and time value Personal Finance Problem you plan to invest $1,000 in an…

Compounding frequency and time value Personal Finance Problem you plan to invest $1,000 in an individual retirement arrangement (IRA) today at a nominal annual rate of 8%, which is expected to apply to all futuro years a. How much will you have in the account atter 11 years if inforest is compounded (1) annually (2) semiannually. (3) daily (assume a 365 day year) and (4) continuously? b. What is the effective annual rate, EAR for each compounding period in parta? c. How much greator will your RA balance be in 11 years if interest is compounded continuously rather than annualy? 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 a. (1) The amount you will have in the account at the end of 11 yours if interest is compounded annually iss (Round to the nontest cont