Question: Find the amount to which $800 will grow under each of these conditions: 14% compounded annually for 3 years. Do not round intermediate calculations. Round

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

14% compounded annually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

14% compounded semiannually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

14% compounded quarterly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

14% compounded monthly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

14% compounded daily for 3 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent.

$

Why does the observed pattern of FVs occur?

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