i only need q2 and q3.no need for q1

# Question 1 Assume that you have decided to create a savings bank account in your name with the funds earmarked for your twin babies. In this context, from the 1st through the 18th birthday, you will make equal amount series of annual deposits on each of birthday of your children (in total 18 deposits) with an interest rate of 12% compounded annually. Assuming that the first withdrawal from that account will be made on the 18th birthday of your twins, each of your children is expected to make six annual withdrawals from the account in the amount of 21,000 TL on each birthday. Also note that, savings account in the bank carries a fee of 1,000 TL which has to be paid by you exactly the same year of your last deposit payment. a) Construct the cash flow diagram (15 points). b) Calculate the required annual deposit (20 points). c) How much extra annual deposit you have to pay if the interest rate reduces to 6%? (20 points)