Question: Future value for various compounding periods Find the amount to which $200 will grow under each of these conditions: 16% compounded annually for 10 years.

Future value for various compounding periods

Find the amount to which $200 will grow under each of these conditions:

  1. 16% compounded annually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  2. 16% compounded semiannually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  3. 16% compounded quarterly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  4. 16% compounded monthly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. $

  5. 16% compounded daily for 10 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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