Instructor-created question Question Help Annuities and compounding Personal Finance Problem Janet Boyle intends to deposit $340 per year in a credit union for the next 10 years, and the credit union pays an annual interest rate of 7% 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the future value that Janet will have in 10 years, given that end-of-period deposits are made and no interest is withdrawn, if (1) 5340 is deposited annually and the credit union pays interest annually. (2) $170 is deposited semiannually and the credit union pays interest somiannually (3) $85 is deposited quarterly and the credit union pays interest quarterly b. What is the effective annual rato (EAR) for (1) semiannual compounding and (2) quarterly compounding? c. 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) 5340 is deposited annually and the credit union pays interest annually, the future value that Janet will have at the end of 10 years is $(Round to the nearest cont.) (2) If $170 is deposited semiannually and the credit union pays interest somiannually, the futuro value that Janet will have at the end of 10 years is $. (Round to the nearest cont (3) 6585 in deposited quarterly and the credit union pays Interest quarterly, the future value that Janet will have at the end of 10 years is $0 (Round to the nearest cont b. The EAR for (1) semiannual compounding is percent and (2) quarterly compounding is percent. (Round to wo decimals) Enter your answer in the edit fields and then click Check