Problem $1$

Score: $\frac{?}{8}$ points

You deposited a certain amount of money in a savings account in a bank $($which pays $8\%$ interest$)$ so that in the next twelve months you can have enough money to cover your tuition and expenses. The estimated amount you nced is $$1,200$ for the first $3$ months to pay your tuitiol and expenses. From there you expect that your monthly expenses will decrease by $$100$ each month. In month $12,$ you will need an additional $$700$ over the monthly expense for travelling purpose. Draw the cash flow diagram and identify all the variables. $($No need to calculate!$)$