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Anthony and Michelle Constantino just got married and received $30,000 in cash gifts for their wedding. How much will they have on their 25th anniversary

Anthony and Michelle Constantino just got married and received $30,000 in cash gifts for their wedding. How much will they have on their 25th anniversary if they place half of this money in a fixed-rate investment earning 7% compounded annually? Would the future value be larger or smaller if the compounding period were 6 months? How much more or less would they have earned with this shorter compounding period?

PLEASE SHOW WORK and it is not the same question as the ones listed on chegg. This one is 7% compounded annually and not 12%

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