Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $340 per year in a credit union for the next 8 years, and the credit union pays an annual interest rate of 8%. 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the future value that Janet will have in 8 years, given that end-of-period deposits are made and no interest is withdrawn, if (1) $340 is deposited annually and the credit union pays interest annually. (2) $170 is deposited semiannually and the credit union pays interest semiannually. (3) $85 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. a. (1) If $340 is deposited annually and the credit union pays interest annually, the future value that Janet will have at the end of 8 years is $ 3616.45. (Round to the nearest cent.) (2) If $170 is deposited semiannually and the credit union pays interest semiannually, the future value that Janet will have at the end of 8 years is $ (Round to the nearest cent.)