lomework: HW Ch5 Question 20, P5-42 (similar to) Part 1 of 4 HW Score: 63.13%, 220.94 of 350 points Points: 0 of 10 Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $240 per year in a credit union for the next 8 years, and the credit union pays an annual interest rate of 9%. 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the future value that Janet will have in 8 years, given that end-of-period deposits are made and no interest is withdrawn, if (1) $240 is deposited annually and the credit union pays interest annually. (2) $120 is deposited semiannually and the credit union pays interest semiannually. (3) $60 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.