Apollo Enterprises has been awarded an insurance settlement of $2,000 at the end of each 6 month period for the next 14 years. (Round your answers to the nearest cent.)

(a)

As the accountant, calculate how much (in $) the insurance company must set aside now at 6% interest compounded semiannually to pay this obligation to Apollo.

$

(b)

How much (in $) would the insurance company have to invest now if the Apollo settlement was changed to $1,000 at the end of each 3 month period for 14 years and the insurance company earned 8% interest compounded quarterly?

$

(c)

How much (in $) would the insurance company have to invest now if the Apollo settlement was paid at the beginning of each 3 month period rather than at the end?