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5. Find the future value of the following ordinary annuities. a. FV of $1,000 each...

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Finance

5. Find the future value of the following ordinary annuities.

a. FV of $1,000 each year for 5 years at a nominal rate of 12%, compounded annually

b. FV of $500 each 6 months for 5 years at a nominal rate of 12%, compounded semiannually

c. FV of $250 each 3 months for 5 years at a nominal rate of 12%, compounded quarterly

d. The annuities described in parts a, b and c have the same amount of money paid into them during 5-year period, and earn interest at the same nominal rate. Is the future value same or different, if different what is the reason?

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