FUTURE VALUE FOR VARIOUS COMPOUNDING PERIODS Find the amount to which $500 will grow under each of

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FUTURE VALUE FOR VARIOUS COMPOUNDING PERIODS Find the amount to which $500 will grow under each of these conditions:

a. 12% compounded annually for 5 years

b. 12% compounded semiannually for 5 years

c. 12% compounded quarterly for 5 years

d. 12% compounded monthly for 5 years

e. 12% compounded daily for 5 years

f. Why does the observed pattern of FVs occur?

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