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.)
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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.)
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