To save for $2,500 in five years for Caribbean vacation, one must save different amounts, depending on the frequency of the payments. Assuming one was contributing to a Tax-Free Savings Account TFSA) that is paying a 3 percent rate of return, what would be required payments based on the following scenarios Question 20 (1 point) One deposit (lump sum) at 3 percent that is compounded annually? (1 mark) $2,380.95 O $2,427.18 O $2,156.52 $1,958.82 None of the Above Question 21 (1 point) Monthly Payments, with 3 percent that is compounded monthly? (Remember payments are made at the BEGINNING of the Payment Period) (1 mark) $38.58 $496.27 $204.97 $36.61 None of the Above Question 22 (1 point) Biweekly Payments (26 payments per year), with 3 percent that is compounded biweekly? (Remember payments are made at the BEGINNING of the Payment Period) (1 mark) $30.61 $17.82 $16.91 $29.68 None of the Above Question 23 (1 point) Annually Payments, with 3 percent that is compounded annually? (Remember payments are made at the BEGINNING of the Payment Period) (1 mark) $785.27 $457.17 $430.89 $755.26