Tommy and Anthony both want to open savings accounts today. Tommy wants to have 1,000 in his savings account six years from now. Anthony wants to have 1,000$ in his savings account three years from now. Which of the following statements is (are) correct assuming that both Anthony and Tommy earn the same rate of interest ? Assume that the interest rate is greater than zero and less than 20 %.

1. Tommy needs to deposit more money into his account today than does Anthony

2. Tommy will need to deposit twice the amount of money today as Anthony.

3. Anthony needs to deposit more money into his account today than does Tommy.

4. Anthony needs to deposit twice the amount of money today as Tommy.

Choose one

A) 1 only

B) 3 only

C) 3 and 4 only

D) 2 only

E) 4 only