Question

Future value for various compounding periods
Find the amount to which $500 will grow under each of these conditions:
a. 12% compounded annually for 5 years
b. 12% compounded semiannually for 5 years
c. 12% compounded quarterly for 5 years
d. 12% compounded monthly for 5 years
e. 12% compounded daily for 5 years
f. Why does the observed pattern of FVs occur?

Answer 1

Step-by-step explanation:

kdjfkfjfjfifififiififififififiofof