If the White Rock Fire Department invests now in new ladder systems for several of its trucks, the department would save $3,500 every 6 months in repair costs. What single cash investment made now is equivalent to the repair payments if interest is 8% compounded quarterly and the payments are made

a. at the end of every 6 months for 15 years? (3 marks)

b. at the beginning of every 6 months for 9 years but deferred for 3 years? (5 marks)

c. at the end of every 6 months in perpetuity? (2 marks)

d. at the beginning of every 6 months in perpetuity?

You MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV, AMORT) to solve questions whenever possible.