Find the amount to which $700 will grow under each of these conditions: a. 8% compounded annually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. 8% compounded semiannually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. LA c. 8% compounded quarterly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. d. 8% compounded monthly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ e. 8% compounded daily for 3 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? The future values increase because as compounding periods per year increase, interest is earned on interest more frequently.