To save for $2,500 in five years to purchase a new Apple laptop computer, 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 2.5 percent rate of return, what would be required payments based on the following scenarios.

1# One deposit (lump sum) paid at the beginning of the five-year period, which compounded annually at 2.5 percent?

2# Monthly Payments, with 2.5 percent that is compounded monthly? (Remember payments are made at the BEGINNING of the Payment Period)

3# Biweekly Payments (26 payments per year), with 2.5 percent that is compounded biweekly? (Remember payments are made at the BEGINNING of the Payment Period)

4#Annual Payments, with 2.5 percent that is compounded annually? (Remember payments are made at the BEGINNING of the Payment Period)