Find the future values of the following ordinary annulties: a. FV of $600 paid each 6 months for 5 years at a nominal rate of 5% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. $ b. FV of $300 paid each 3 months for 5 years the nearest cent a nominal rate of 5% compounded quarterly. Do not round intermediate calculations, Round your answer to $ These annuities receive the same amount of cash during the 5-year period and earn interest at the same nominal tate, vet the annuity in part b ends up larger than the one in part a. Why does this occur The nomina depose into the annuity in partib) are greater than the nominal deposit into the annuity in patta) Then in art() is ampounded less frently therefore more interest and on previously came werest The annuity in it is compounded more frequently therefore, mere rest isemed on prenamed interest The anat in part is compounded less therefore, rore interest is earned on peamed interest