Question: 11. Problem 5.23 (Future Value for Various Compounding Periods) Find the amount to which $700 will grow under each of these conditions: a. 10% compounded

11. Problem 5.23 (Future Value for Various Compounding Periods) Find the amount to which $700 will grow under each of these conditions: a. 10% compounded annually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. 5 b. 10% compounded semiannually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. 5 c. 10% compounded quarterly for 9 years. Do not round intermediate caiculations. Round your answer to the nearest cent. d. 10% compounded monthly for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. 5 e. 10% compounded daily for 9 years. Assume 365-days in a year, Do not round intermediate calculations, Round your answer to the neares t. Why does the observed pottern of RVs occur

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