Find the amount to which $500 will grow under each of these conditions:

4% compounded annually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

4% compounded semiannually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

4% compounded quarterly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

4% compounded monthly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent.

$

4% compounded daily for 10 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?