Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $$320$ per year in a credit

union for the next $8$ years, and the credit union pays an annual interest rate of $10\%.$

a$.$ Determine the future value that Janet will have in $8$ years, given that end$-$of$-$period deposits are made and no interest

is withdrawn, if

$(1)$ $$320$ is deposited annually and the credit union pays interest annually.

$(2)$ $$160$ is deposited semiannually and the credit union pays interest semiannually.

$(3)$ $$80$ is deposited quarterly and the credit union pays interest quarterly.

b$.$ Use your finding in part a to discuss the effect of more frequent deposits and compounding of interest on the future

value of an annuity.