11. Problem 5.23 (Future Value for Various Compounding Periods) Find the amount to which $700 will grow under each of these conditions: a. 16% compounded annually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. 16% compounded semiannwally for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. 5 c. 16% compounded quarterly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. 3 d. 16% compounded monthly for 3 years. Do not round intermediate calculations. Aound your answer to the nearest cent. 3. e. 16% compounded daly for 3 years. Aswame 365 -days in a yeat, Do not round intermediate calculations. Round your answer to the nearest cent. 3 f. Why does the obverved pattem of Fis eccur? Mainit. 12. Problem 5.24 (Present Value for Various Discounting Periods) Find the present value of $200 due in the future under each of these conditions: b. 12% nominal rate, semianmal compounding, discounted back 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. 3 b. 12% nominal rate, quarterly compounding, discounted back 4 years, Do not round intermediate calculations. Round your answer to the nearest cent. 5 c. 12% nominal rate, monthly compounding, discounted back 1 year, Do not round intermediate calculations. Round your answer to the nearest cent. 5 d. Why do the differences in the PVs occur