John now has $6000. In three months, he will receive a cheque for $4000 and another in 12 months for $1500. He must pay $900 at the end of each month (starting exactly one month from now). Starting in month 4 and every month thereafter he will pay $100. a) Draw a cash flow diagram illustrating all of these payments for a total of 12-monthly periods. Include his cash on hand as a payment received at time 0. b) Calculate the present worth of these payments if the interest rate is 12% compounded monthly