Find the amount to which $400 will grow under each of these conditions: 10% compounded annually for 9 years. Do not roun

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Find the amount to which $400 will grow under each of these
conditions:
10% compounded annually for 9 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
10% compounded semiannually for 9 years. Do not round
intermediate calculations. Round your answer to the nearest
cent.
10% compounded quarterly for 9 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
10% compounded monthly for 9 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
10% compounded daily for 9 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? 1. The future values
increase because as compounding periods per year Increase, Interest
ls earned on interest less frequently. 2. The future values
decrease because as compounding periods per year increase, Interest
ls earned on Interest more frequently. 3.The future values increase
because as compounding periods per year Increase, Interest ls
earned on interest more frequently. 4.The future values increase
because as compounding periods per year decrease, Interest Is
earned on Interest more frequently. 5. The future values
decrease because as compounding periods per year decrease, Interest
is earned on Interest more frequently.