5. You need $25,256: at the end of 8 years, and your only investment outlet is an 3 percent long tenn certicate of deposit [compounded annually). With the certicate of deposit, you make an initial investment at the beginning of the first year. Use Appendix B and pgndix C tor an approximate answer. but calculate your nal answer using the formula and nancial calculator methods. a. What single payment could be made at the beginning ot the rst year to achieve this objective? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Single payment made 33 b What amount could you pay at the end of each year annually for 8 years to achieve this same objective? {Do not round intermediate calculations. Round your final answer to 2 decimal places.) Amount to be paid $