12 eBook 13. Problem Walk-Through O Find the future values of the following ordinary annuities: 3. FV of $700 paid each 6 months for 5 years at a nominal rate of 14% compounded semiannually. Do not round Intermediate calculations. Round your answer to the nearest cent. 14. $ D. FV of $350 paid each 3 months for 5 years at a nominal rate of 14% compounded quarterly. Da not round intermediate calculations, Hound 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 to part bends u larger than the one in bart a. Why does this occur? Welect The nominal deposits into the annuity in part (b) are greater than the nominal deposits into the annuity in part (a). The annuity in part (a) is compounded less frequently, therefore, more interest is earned on previously-earned interest. The annuity in part (a) is compounded more frequently, therefore, more interest is earned on previously earned interest The annuity in part(b) is compounded less frequently, therefore, more interest is earned on previously earned interest ly Work (2 remaining) The annuity in part() is compounded more frequently, therefore, more interest is earned on previously-earned interest