Carl Hightop, a popular basketball player, has been offered a four-year salary deal. He can either accept $4 comma 700 comma 000 now or accept quarterly amounts of $330 comma 000 payable at the end of each quarter. If money can be invested at 4.8% compounded monthly, which option is the better option for Carl and by how much? Question content area bottom Part 1 The ▼ lump sum quarterly 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

Carl Hightop, a popular basketball player, has been offered a four-year salary deal. He can either accept $4 comma 700 comma 000 now or accept quarterly amounts of $330 comma 000 payable at the end of each quarter. If money can be invested at 4.8% compounded monthly, which option is the better option for Carl and by how much? Question content area bottom Part 1 The ▼ lump sum quarterly 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