Casey was supposed to make a payment of $4,000 in 2 years and another payment for $500 in 8 years to Maroon Inc. as part of a payment plan. Instead, he is trying to reach an agreement with the company where he would settle both payments in 3 years. Assume that money is worth 4.10% compounded semi-annually.

a)Calculate the equivalent value of the $4,000 payment and the $500 payment today.

b. Calculate the size of the payment required in 3 years to settle the amount.