Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $220 per year in a credit union for the next 10 years, and the credit union pays an annual interest rate of 6% a. Determine the future value that Janet will have in 10 years, given that end of period deposits are made and no interest is withdrawn, if (1) $220 is deposited annually and the credit union pays interest annually (2) $110 is deposited semiannually and the credit union pays interest semiannually (3) $55 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. . (Round to the nearest a. (1) If $220 is deposited annually and the credit union pays interest annually, the future value that Janet will have at the end of 10 years is S cent.)