Question: Find the amount to which $800 will grow under each of these conditions: 5% compounded annually for 6 years. Do not round intermediate calculations. Round

Find the amount to which $800 will grow under each of these conditions:

  1. 5% compounded annually for 6 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  2. 5% compounded semiannually for 6 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  3. 5% compounded quarterly for 6 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  4. 5% compounded monthly for 6 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  5. 5% compounded daily for 6 years. 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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