Future value for various compounding periods Find the amount to which $400 will grow under each of these conditions: 14% compounded annually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ________ 14% compounded semiannually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ________ 14% compounded quarterly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ________ 14% compounded monthly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ________ 14% compounded daily for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. Why does the observed pattern of FVs occur? ___________