Ch $05-$ End$-$of$-$Chapter Problems $-$ Time Value of Money

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Keep the Highest $1/6$

$10.$ Problem $5\mathrm{.}23($Future Value for Various Compounding Periods$)$

Find the amount to which $$200$ will grow under each of these conditions:

a$.12\%$ compounded annually for $5$ years. Do not round intermediate calculations. Round your answer to the nearest cent.

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b$.12\%$ compounded semiannually for $5$ years. Do not round intermediate calculations. Round your answer to the nearest cent.

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c$.12\%$ compounded quarterly for $5$ years. Do not round intermediate calculations. Round your answer to the nearest cent.

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d$.12\%$ compounded monthly for $5$ years. Do not round intermediate calculations. Round your answer to the nearest cent.

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e$.12\%$ compounded daily for $5$ years. Assume $365-$days in a year. Do not round intermediate calculations. Round your answer to the nearest cent.

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f$.$ Why does the observed pattern of FVs occur?

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