Annuities and compounding Personal Finance Problem: Janet Boyle intends to deposit $340 per year in a credit union for the next 9 years, and the credit union pays an annual interest rate of 10%.

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Determine the future value that Janet will have in years, given that end-of-period deposits are made and no interest is withdrawn, if

(1) $170 is deposited semiannually and the credit union pays interest semiannually.

(2) $85 is deposited quarterly and the credit union pays interest quarterly.