Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $220 per year in a credit union for the next 6 years, and the credit union pays an annual interest rate of 12% a. Determine the future value that Janet will have in 6 years, given that end-of-period deposits are made and no interest is withdrawn, if (1) $220 is deposited annually and the credit union pays interest annually (2) $110 is deposited semiannually and the credit union pays interest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 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 6 years is $(Round to the nearest cent.)