As a settlement for an insurance claim, Craig was offered one of two choices. He could either

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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 $5000 now, or accept quarterly payments of $145 for the next 10 years. If the money is placed into a trust fund earning 3.95% compounded semi-annually. Which is the better option and by how much?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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