Find the future values of the following ordinary annuities?

a. $400 payments each six months for five years compounded at a simple rate of 12%

compounded semi-annually.

b. $200 each quarter for five years at a simple rate of 12% compounded quarterly.

c. The annuities described in parts a and b have the same amount of money paid into

them during the five-year period and both earn interest at the same simple rate, yet the

annuity in part b earns $101.75 more than the one in part a over the five years. Why

does this occur?