Future value for various compounding periods Find the amount to which $200 will grow under each of these conditions:
A-12% compounded annually for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent.
B-12% compounded semiannually for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent.
C-12% compounded quarterly for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent.
D-12% compounded monthly for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent.
E-12% compounded daily for 8 years. Do not round intermediate calculations. Round your answer to the nearest cent.
Why does the observed pattern of FVs occur?