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Q2) Assume that 4 years from now you will need $1000. Your bank compounds interest at an 8% annual rate. (2 marks) a. How much must you deposit to have a balance of $1000 at year 4? b. If you want to make equal payments at the end of year 1 through year 4 to accumulate $1000, how large must each of the 4 payments be? c. Suppose you can deposit only $186.29 each at the end of year 1 through 4, but you still need $1000, at the end of year 4. What interest rate, with annual compounding is required to achieve your goal