You want to have $35,000 in the bank after 6 years for a down payment on a house. The annual interest rate on a Certificate of Deposit at your local bank is 3.00%, compounded quarterly (4 times per year). Instructions: On a separate piece of paper, show all your calculations for the next 4 questions, then scan and upload below when you are done. You do not need to draw the Cash Flow Diagram for this problem (but you can if you want).

A) How much would you need to deposit (one-time payment) at the beginning of the 6 years to meet your goal? Assume compound interest.

B) How much total interest would this deposit earn in the 6 years of the investment?

C) Suppose instead that you decide to make payments every quarter. How much would you need to deposit at the end of each quarter to meet your same $35,000 goal?

D) How much total interest would these deposits earn in 6 years?