Maria was scheduled to pay Johann $6500 in two years from now, and an additional $8500 in six years from now

a. What single equivalent payment should Johann accept in three years from now instead of the two scheduled payments if he can earn 6% compounded quarterly on his investments?

b. If Johann accepts the single payment calculated in Part (a), show calculations to prove that he will be in the same financial position six years from now as if Maria had made the two originally scheduled payments.