23. Problem 5.25 (Future Value of an Annuity) eBook Problem Walk-Through Find the future values of the following ordinary annuities: a. PV of $500 paid each 6 months for 5 years at a nominal rate of 7% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent $ b. FV of $250 paid each 3 months for 5 years at a nominal rate of 7%. compounded quarterly. Do not round Intermediate calculations, Round your answer to the nearest cent $ c. These annuities receive the same amount of cash during the 5-year period and earn interest at the same nominal rate, yet the annuity in part bends up larger than the one in part a. Why does this occur? Select The nominal deposits in the annuity in part are greater than the nominal posts the ruity in part The annuity in particomoorded frequently therefore, more interest is comeden previously and interest The annuity in particomoounded more recently therefore, more interested on provousy anders The annuity in part is compounded streguently, therefore, more interest med on vedere They in part is compounded more recently, therefore, more intered on previously and interest