25. Problem 5.25 (Future Value of an Annuity) eBook Find the future values of the following ordinary annuities: a. FV of $700 paid each 6 months for 5 years at a nominal rate of 11% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent b. FV of $350 paid each 3 months for 5 years at a nominal rate of 11% 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 parta Why does this occur? -Select- Grade i New Save & Continue Continue without sering N] 0 10:00 PM 2/9/2020 TOSHIBA