Anthony and Michelle Constantino just got married and received $$22,000$ in cash gifts for their wedding. How much will they have on their $25$th anniversary if they place half of this money in a fixed$-$rate investment earning $7$ percent compounded annually? Would the future value be larger or smaller if the compounding period was $6$ months? How much more or less would they have earned with this shorter compounding period?

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If they place half of this money, PV$,$ in a fixed rate investment earning $7$ percent compounded annually, the amount they will have, FV$,$ on their $25$th anniversary is $$.($Round to the nearest cent.$)$