3. Find the present value of a deferred perpetuity-due paying $15,000 quarterly if the deferred period is 3 years and the interest rate is i = 0.06 4. A 5-year annuity immediate has quarterly payments of $8,000 each during the first year, $8,800 each during the second year, $9,600 each during the third year, $10,400 each during the fourth year, and $11,200 each during the fifth year. Find its present value if (2) = 0.06