Question: Find the amount to which $600 will grow under each of these conditions: 13% compounded annually for 7 years. Do not round intermediate calculations. Round

Find the amount to which $600 will grow under each of these conditions:

  1. 13% compounded annually for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent.

  2. 13% compounded semiannually for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent.

  3. 13% compounded quarterly for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent.

  4. 13% compounded monthly for 7 years. Do not round intermediate calculations. Round your answer to the nearest cent.

  5. 13% compounded daily for 7 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent.

  6. Why does the observed pattern of FVs occur

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