21. Problem 5.23 (Future Value for Various Compounding Periods) eBook Problem Walk Through Find the amount to which $300 wil grow under each of these conditions: a. 10% compounded annually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent $ b. 10% compounded semiannually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ c. 10% compounded quarterly for 9 years. Do not round intermediate calculations, Round your answer to the nearest cent. s d. 10% compounded monthly for years. Do not round intermediate calculations. Round your answer to the nearest cent. 5 10% compounded daily for 9 years. Assume 365 days in a year. Do not round intermediate calculations. Round your answer to the newest con 5 Why does the observed pattern of FVs occur eBook Problem Walk-Through the amount to which $300 will grow under each of these conditions: a. 10% compounded annually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. nearest cent. -Select- c The future values increase because as compounding periods per year increase, interest is earned on interest less frequently, rest cent. The future values decrease because compounding periods per vear increase, interest is earned on interest more frequently d. est cent. The future values increase because as compounding periods per year increase interest is eamed on interest more frequently your answer to the nearest cent. e. The future values increase because as compounding periods per year decrease, interest is camned on interest more frequently The future values decrease because as compounding periods per year decrease, interest is earned on interest more frequently -Select