Walk-through Find the future values of the following ordinary annuities: a. PV of $600 paid each 6 months for 5 years at a nominal rate of 16% 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 at a nominal rate of 16% 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? -Select- 2 The nominal deposits into the annuity in part (b) are greater than the nominal deposits into the annuity in parta The annuity in part (a) is compounded less frequently, therefore, more interest is earned on previously-earned interest The annuity in part(a) is compounded more frequently, therefore, more interest is earned on previously earned interest The annuity in part b) is compounded less frequently, therefore, more interest is named on previously-rated interest The annuity in part(b) is compounded more frequently, therefore, more interest is eamed on previously-earned interest Check My Work (3 remaining)