ack to Assignment Attempts 2 Keep the Highest 2/3 5. Problem 5.25 (Future Value of an Annuity) eBook Problem Walk-Through Find the future values of the following ordinary annuities: a. FV of $600 paid each 6 months for 5 years at a nominal rate of 15% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. FV of $300 paid each 3 months for 5 years at a nominal rate of 15% 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 b ends up larger than the one in part a. Why does this occur? -Select The nomina deposits into the annuity in part (b) are greater than the nominal deposits into the annulty in part (3), The annuity in part (a) is compounded less frequently, therefore, more nterest is earned on previously-earned interest. The annuity in partxa) is compounded more frequently, therefore, more interest is earned on previously-earned interest. The annuity in part ibi is compounded less frequently, therefore, more interest is earned on previously-earned interest. The annuity in part bj is compounded more frequently: therefore, more interest is earned on previously earned Interest