(10 pts) (Compound Amount). You know how expensive a college education is, so you decide to start saving early to help pay for your daughter's education. You find a plan that will pay 6% interest, compounded semi-annually (twice per year). What will the balance be in 18 years if you contribute $500 every six months for 18 years? o receive full credit for Problems 14(a), a. Sketch the cash flow diagram, showing all pertinent data. (Cash flows, interest rate, number of periods, and known quantities.) Circle the unknown quantity you're solving for on the cash flow diagram. (Hand drawn is perfectly fine). b. The discount or compounding factor(s) used to obtain the result and how obtained (formula or table). Tables of compound rate factors are posted with this homework for all of the interest rates you may need, or you may calculate using the formulas from the lecture slides. c. Solve for the unknown amount. Example: (Capital Recovery Factor) You take out a conventional loan at a rate of 6% for three (3) years in the amount of $10,000. Interest is compounded monthly. What is your monthly payment