23. Problem 5.25 (Future Value of an Annuity) eBook Problem Walk-Through Find the future values of the following ordinary annuities: 0. FV of $500 paid each 6 months for 5 years at a nominal rate of 6% compounded semiannually. Do not round Intermediate calculations. Round your answer to the nearest cent. 5 b. FV of $250 paid each 3 months for 5 years at a nominal rate of 6% 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 is into the annuity in part() e greater than the nominal deposits into the annuity in port(a) The annuty in Dart() is compounded less frequently, therefore, more werest is tarned on previously earned interest The annuity in part() is compounded more frequently therefore, more interests canned on perusteamed interest The annut in part (b) is compounded less frequently, therefore, more interest on prevlarned interest The annuity in this coded more recently therefore, more interest is dan cand interest Grade It Now Save & Continue Continue without saving