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8. Problem 5.15 (Present Value of an Annuity) eBook Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. $200 per year for 16 years at 6%. b. $100 per year for 8 years at 3%. C. $200 per year for 8 years at 0%. d. Rework previous parts assuming they are annuities due. Present value of $200 per year for 16 years at 6%: $ Present value of $100 per year for 8 years at 3%: $ Present value of $200 per year for 8 years at 0%:$ 12. Problem 5.23 (Future Value for Various Compounding Periods) eBook Find the amount to which $400 will grow under each of these conditions: a. 13% compounded annually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. b. 13% compounded semiannually for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. C. 13% compounded quarterly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. d. 13% compounded monthly for 10 years. Do not round intermediate calculations. Round your answer to the nearest cent. e. 13% compounded daily for 10 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent f. Why does the observed pattern of FVs occur? -Select- The future values increase because as compounding periods per year increase, interest is earned on interest less frequently. The future values decrease because as compounding periods per year increase, interest is earned on interest more frequently. The future values increase because as compounding periods per year increase, interest is earned on interest more frequently. The future values increase because as compounding periods per year decrease, Interest is earned on interest more frequently. The future values decrease because as compounding periods per year decrease, interest is earned on interest more frequently

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