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 11% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. $

b. FV of $100 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 part a. Why does this occur?

a. The nominal deposit into the annuity and part B or greater than the nominal deposit into the annually in part a.

b. The annuity in part a is compounded more frequently there for more interest is earned on previously earned interest.

c.The annuitly in part a is compounded less frequently therefore more interest is earned on previously earned interest.

d. The annuity and part B is compounded less frequently therefore more interest is earned on previously earned interest.

e. The annuity and part B is compounded more frequently therefore more interest is earned on previously earned interest.