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Find the future value of an investment of $100,000 made today for 5 years and paying 8.75 per cent for the following compounding periods: a.

Find the future value of an investment of $100,000 made today for 5 years and paying 8.75 per cent for the following compounding periods:

a. quarterly. b. monthly. c. daily. d. continuous.

Which compounding period results in the highest future value? Provide an explanation why this compounding period gives the highest future value.

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