Question: Explain please. Keep the Highest 1/3 7. Problem 28-18 (Future Value of an Annuity for Various Compounding Periods) ELE eBook Future Value of an Annuity

Explain please. Keep the Highest 1/3 7. Problem 28-18 (Future Value of Explain please.

Keep the Highest 1/3 7. Problem 28-18 (Future Value of an Annuity for Various Compounding Periods) ELE eBook Future Value of an Annuity for Various Compounding Periods Find the future values of the following ordinary annuities. a. FV of $600 paid each 6 months for 9 years at a nominal rate of 12%, compounded semiannually. Do not round intermediate calculations. Round your ans to the nearest cent. $ b. FV of $300 paid each 3 months for 9 years at a nominal rate of 12%, compounded quarterly. Do not round intermediate calculations. Round your answert the nearest cent. $ C. The annuities described in parts a and b have the same amount of money paid into them during the 9-year period, and both earn interest at the same nominal rate, yet the annuity in part b earns more than the one in part a over the 9 years. Why does this occur? -Select

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