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$3.$ Problem $5\mathrm{.}23($Future Value for Various Compounding Periods$)$

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

a$.8\%$ compounded annually for $8$ years. Do not round intermediate calculations. Round your answer to the nearest cent.

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b$.8\%$ compounded semiannually for $8$ years. Do not round intermediate calculations. Round your answer to the nearest cent. $

c$.8\%$ compounded quarterly for $8$ years. Do not round intermediate calculations. Round your answer to the nearest cent. $

d$.8\%$ compounded monthly for $8$ years. Do not round intermediate calculations. Round your answer to the nearest cent.

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e$.8\%$ compounded daily for $8$ years. Assume $365-$days in a year. Do not round intermediate calculations. Round your answer to the nearest cent. $

f$.$ Why does the observed pattern of FVs occur?

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