Future Value of an Annuity for Various Compounding Periods Find the future values of the following ordinary annuities. a. FV of $800 paid each 6 months for 8 years at a nominal rate of 8%, compounded semiannually, Do not round intermediate calculations. Round your answer to the nearest cent. \$ b. FV of $400 paid each 3 months for 8 years at a nominal rate of 8%, compounded quarterly. Do not round intermediate calculations. Round your answer to the nearest cent. c. The annuities described in parts a and b have the same amount of money paid into them during the 8 -year period, and both earn interest at the same nominal rate, yet the annuity in part b earns more than the one in part'a over the 8 years. Why does this occur