11. Problem 5.23 (Future Value for Various Compounding Periods) Find the amount to which $500 will grow under each of these conditions: a. 10% compounded annually for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. 10% compounded semiannually for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ c. 10% compounded quarterly for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ d. 10% compounded monthly for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ e. 10% compounded daily for 7 years. Assume 365 -days in a year. Do not round intermediate calculations. Round your answer to the nearest cent. $ f. Why does the observed pattern of FVs occur? -Select