John-The-Smart-Investor plans to make uniform deposits every three months into a high yield savings account so that at the end of 8 years, a sum of $8,000 will be saved in the account. If the 8%...

Extracted text: John-The-Smart-Investor plans to make uniform deposits every three months into a high yield savings account so that at the end of 8 years, a sum of $8,000 will be saved in the account. If the 8% effective annual interest is compounded quarterly, how much should John deposit at the end of each quarter? Draw the Cash Flow Diagram (CFD) explicitly.