Question: Problem 5-23 Future value for various compounding periods Find the amount to which $400 will grow under each of these conditions: 12% compounded annually for

Problem 5-23 Future value for various compounding periods

Find the amount to which $400 will grow under each of these conditions:

12% compounded annually for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ___

12% compounded semiannually for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ___

12% compounded quarterly for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ___

12% compounded monthly for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ___

12% compounded daily for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ ___

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