Please use formulas, not excel

-42 Annuities and compounding Janet Boyle intends to deposit $300 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the future value that Janet will have in 10 years, given that end-ofperiod deposits are made and no interest is withdrawn, if (1) $300 is deposited annually and the credit union pays interest annually. (2) \$150 is deposited semiannually and the credit union pays interest semiannually. (3) $75 is deposited quarterly and the credit union pays interest quarterly. b. Use your findings in part a to discuss the effect of more frequent deposits and compounding of interest on the future value of an annuity