Find the amount to which $400 will grow under each of these conditions 10 compounded annually for 9 years Do not round intermediate calculations Round your answer to the nearest cent 10 compounded semiannually for 9 years Do not round intermediate calculations Round your answer to the nearest cent 10 compounded quarterly for 9 years Do not round intermediate calculations Round your answer to the nearest cent 10 compounded monthly for 9 years Do not round intermediate calculations Round your answer to the nearest cent 10 compounded daily for 9 years Assume 365 days in a year Do not round intermediate calculations Round your answer to the nearest cent Why does the observed pattern of FVs occur 1 The future values increase because as compounding periods per year Increase, Interest ls earned on interest less frequently 2 The future values decrease because as compounding periods per year increase, Interest ls earned on Interest more frequently 3 The future values increase because as compounding periods per year Increase, Interest ls earned on interest more frequently 4 The future values increase because as compounding periods per year decrease, Interest Is earned on Interest more frequently 5 The future values decrease because as compounding periods per year decrease, Interest is earned on Interest more frequently

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Find the amount to which $400 will grow under each of these conditions:

10% compounded annually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent.
10% compounded semiannually for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent.
10% compounded quarterly for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent.
10% compounded monthly for 9 years. Do not round intermediate calculations. Round your answer to the nearest cent.
10% compounded daily for 9 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent.
Why does the observed pattern of FVs occur? 1. The future values increase because as compounding periods per year Increase, Interest ls earned on interest less frequently. 2. The future values decrease because as compounding periods per year increase, Interest ls earned on Interest more frequently. 3.The future values increase because as compounding periods per year Increase, Interest ls earned on interest more frequently. 4.The future values increase because as compounding periods per year decrease, Interest Is earned on Interest more frequently. 5. The future values decrease because as compounding periods per year decrease, Interest is earned on Interest more frequently.