Your goal is to have $20,000 in your bank account by the end of 12 years. If the interest rate remains constant at 4% and you want to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.)

$1,597.25

$1,331.04

$1,064.83

$1,197.94

If your deposits were made at the beginning of each year rather than an at the end, by how much would the amount of your deposit change if you still wanted to reach your goal by the end of 12 years? (Note: Round your answer for PMT to two decimal places.)

$69.11

$38.39

$51.19

$43.51