Question: Find the amount to which $400 will grow under each of these conditions: a. 4% compounded annually for 5 years. Do not round intermediate

Find the amount to which $400 will grow under each of these

Find the amount to which $400 will grow under each of these conditions: a. 4% compounded annually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. b. 4% compounded semiannually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ c.4% compounded quarterly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ d. 4% compounded monthly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. e: 4% compounded daily for 5 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?

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