Question: Find the amount to which $600 will grow under each of these conditions: a. 12% compounded annually for 10 years. Do not round intermediate calculations.
Find the amount to which $600 will grow under each of these conditions: a. 12% compounded annually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. 12% compounded semiannually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. 5 c. 12% compounded quarterly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ d. 12% compounded monthly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ e. 12% compounded daily for 10 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? Select The Future Values increase becauses compounding periods per years interest is camned on interest less frequently The future values decrease because as compounding periods in year increase interest scared on interest indretty The future values increase se compong periods per year increases is came on interest more recent The future values increase be as compounding periods per year de Interestised on interest more they The future as decrease becuas compounding periods per a decreased on the reg Grade it Now Save & Continue
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