7. II10 Points] TEAFMZ F.4.040. Ynu are offered a $1,320,000 retirement package to be given in $110,000 payments at the end nf each of the next 12 years. You are also given the option of acoepting a $710,000 lump sum payment new. Interest rates are at 8.3% over the next 12 years. Which is a better option? 0 the offered annual payments of $110,000 0 the lump sum pf $710,000 O they are the same 0 oennnt be determined Addiliona] Wals ll] eBmk 8. [110 Points] TEAFMZ F.1.DD4. An arneunt of P dollars is burrowed for the given length of time at an annual Interest rate of .r. Find the simple interest that is owed. (RDund your answer tn the nearest cent.) P : $2100, I : 5.0%, 3 years $: Additional Materials EH eEook