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23. Problem 5.23 (Future Value for Various Compounding Periods) eBook Find the amount to which $700 will grow under each of these conditions: a. 11%

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23. Problem 5.23 (Future Value for Various Compounding Periods) eBook Find the amount to which $700 will grow under each of these conditions: a. 11% compounded annually for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. b. 11% compounded semiannually for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ c. 11% compounded quarterly for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. d. 11% compounded monthly for 4 years. Do not round intermediate calculations. Round your answer to the nearest cent. e. 11% compounded daily for 4 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? TOSHIBA

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