FUTURE VALUE FOR VARIOUS COMPOUNDING PERIODS Find the amount to which $400 will grow under each of these conditions: 11% compounded annually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 11% compounded semiannually for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 11% compounded quarterly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 11% compounded monthly for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 11% compounded daily for 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ Why does the observed pattern of FVs occur?