Thomas was supposed to make a payment of $4,250 in 1 year and another payment for $700 in 7 years to Maroon Inc. as part of a payment plan. Instead, she is trying to reach an agreement with the company where she would settle both payments in 5 years. Assume that money is worth 4.91% compounded semi-annually.

a. Calculate the equivalent value of the $4,250 payment and the $700 payment today. $0.00 Round to the nearest cent

b. Calculate the size of the payment required in 5 years to settle the amount. $0.00