Problem 4-16 (Future Value for Various Compounding Periods)

Future Value for Various Compounding Periods Find the amount to which $775 will grow under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

a. 6% compounded annually for 5 years

b. 6% compounded semiannually for 5 years

c. 6% compounded quarterly for 5 years

d. 6% compounded monthly for 5 years