Check My Work (No more tries available) eBook Problem Walk-Through Find the future values of the following ordinary annuities: a. FV of $200 paid each 6 months for 5 years at a nominal rate of 12% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. $ 2,636.1 b. FV of $100 paid each 3 months for 5 years at a nominal rate of 12% compounded quarterly. Do not round intermediate calculations. Round you answer to the nearest cent. $ 2,687.0 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 1 ends up larger than the one in part a. Why does this occur? The annuity in part (b) is compounded more frequently, therefore, more interest is earned on previously-earned interest. Y o