1. Is it more profitable to receive $1000 at the end of each month for 10 years or to receive a lump sum of $140,000 at the end of 10 years? Assume that money can earn 3% interest compounded monthly.
2. Is it more profitable to receive a lump sum of $9,000 at the end of 3 years or to receive $750 at the end of each quarter-year for 3 years? Assume that money can earn 2.2% interest compounded quarterly.