(35 points) For the maintenance of his luxury boat, Fahad will have to do the following monthly payments as shown in the diagram below. Assume that the interest rate is 12% per year. $3,200 $2,800 $2,400 $2,000 16 17 18 19 20 21 a) (15 points) What monthly amount should Fahad save for the first 8 months to complete the following payments starting from 18th month? b) (10 points) What is the future equivalent value of Fahad payments at the end of the 24th month? C) (10 points) Explain how your answers to (a) will change if the interest rate decreases. Write your comments in your words