Question: Find the amount to which $300 will grow under each of these conditions: 13% compounded annually for 5 years. Do not round intermediate calculations. Round

Find the amount to which $300 will grow under each of these conditions:

13% compounded annually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

13% compounded semiannually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

13% compounded quarterly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

13% compounded monthly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

13% compounded daily for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

Why does the observed pattern of FVs occur?

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