17. Problem 5.23 (Future Value for Various Compounding Periods) E eBook Problem Walk-Through Find the amount to which $300 will grow under each of these conditions: a 14% compounded annually for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent $ b. 14% compounded semiannually for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent $ e 14% compounded quarterly for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent $ d. 14% compounded monthly for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent $ e. 14% compounded daily for 8 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent Why does the observed pattern of FVS occur? The t The future comunding pas per year increasesti ned There because as compounding perde, est in re Save & Continue Grade it Now