As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $7177 now, or accept monthly payments of $122 for the next six years. If the money is placed into a trust fund earning 6.42% compounded semi dash annually, which is the better option and by how much? Question content area bottom Part 1 The ▼ lump sum monthly payments option is better by $ enter your response here. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $7177 now, or accept monthly payments of $122 for the next six years. If the money is placed into a trust fund earning 6.42% compounded semi dash annually, which is the better option and by how much? Question content area bottom Part 1 The ▼ lump sum monthly payments option is better by $ enter your response here. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)