A father wants to set up a bank account that will pay his daughter $15,000 at the

Question:

A father wants to set up a bank account that will pay his daughter $15,000 at the end-of-quarter (EOQ) 4 and $25,000 at EOQ 8. He will fund this account by making quarterly payments of $X from the present (time zero) through EOQ 7.
a. Draw a cash-flow diagram from the father's viewpoint.
b. If the quarterly percentage rate is 2%, what is the value of $X that must be deposited into the account?