End-of-Chapter Problems - Time Value of Money mpts: Keep the Highest: 16 Problem 5.23 (Future Value for Various Compounding Periods) eBook Problem Walk-Through Find the amount to which $600 will grow under each of these conditions: a. 14% compounded annually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. b. 14% compounded semiannually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. C. 14% compounded quarterly for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent. d. 14% compounded monthly for 9 years. Do not round intermediate calculations, Round your answer to the nearest cent. e. 14% compounded daily for 9 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? -Select