Question: Problem 4-16 Future Value for Various Compounding Periods Find the amount to which $550 will grow under each of the following conditions. Do not round

Problem 4-16 Future Value for Various Compounding Periods

Find the amount to which $550 will grow under each of the following conditions. Do not round intermediate calculations. Round your answer to the nearest cent.

3% compounded annually for 5 years $
3% compounded semiannually for 5 years $
3% compounded quarterly for 5 years $
3% compounded monthly for 5 years $

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