3. Problem 5.23 (Future Value for Various Compounding Periods) eBook Problem Walk-Through Find the amount to which $300 will grow under each of these conditions: a. 16% compounded annually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. 6:16% compounded semiannually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ c. 16% compounded quarterly for 9 years. Do not round intermediate calculation, Round your answer to the nearest cont. $ di 16% compounded monthly for 9 years. Do not round Intermediate calculations. Round your answer to the nearest cent. $ e. 16% compounded daily for 9 years. Assume 365-days in a year. Do not round Intermediate calculations. Round your answer to the nearest cent. 5 1. Why does the observed pattern of FVs occur? Select