If Raymond has an investment offer to invest a lump sum of money now and then receive $3,500 every 6 months. What is such investment has to be made now if interest is 8% compounded quarterly and the payments of $3,500 will be: (12) a) At the end of every 6 months for 15 years? (4) At the beginning of every 6 months for 10 years? (4) c) At the end of every 6 months for 8 years but deferred for 4 years?