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Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $ 2 8 0 per year in a credit union for the next 1

Annuities and compounding Personal Finance Problem Janet Boyle
intends to deposit $280 per year in a credit union for the next 10 years, and
the credit union pays an annual interest rate of 8%.
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that end-of-period deposits are made and no interest is withdrawn, if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) $280 is deposited annually and the credit union pays interest annually.
(2) $140 is deposited semiannually and the credit union pays interest
semiannually.
(3) $70 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.
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